Salamander to succeed Mitsui at Thai offshore block

Salamander Energy Bualuang has agreed to farm-in to 100% of block G4/50 in the western Gulf of Thailand from Mitsui Oil Exploration Co.

Offshore staff

LONDON – Salamander Energy Bualuang has agreed to farm-in to 100% of block G4/50 in the western Gulf of Thailand from Mitsui Oil Exploration Co.

Following the transaction, Salamander will operate the acreage, but Mitsui will retain commercial options in the event of a discovery.

The block surrounds Salamander’s B8/38 license that contains the Bualuang oil field and Bualuang East Terrace oil discovery.

At more than 11,650 sq km (4,498 sq mi), it is one of the largest blocks of prospective acreage offshore Thailand, Salamader says.

The company plans to acquire more than 2,900 sq km (1,119 sq mi) of 3D seismic later this year followed by a multi-well exploration campaign.

09/12/2011

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