Pearl Energy wins Gulf of Thailand block G11/48
Offshore staff
SINGAPORE -- Pearl Energy Ltd. and partners, Horizon Oil (Siam) Ltd. and Tana Resources (Thailand) Ltd. have been conditionally awarded a petroleum contract for block G11/48 in the Gulf of Thailand.
Block G11/48 is in the southern Gulf of Thailand south of Pearl's Chang Daeng and Bussabong production areas. The block covers 13,600 sq km (5,251 sq mi) adjacent to the western boundary of the Malaysia-Thai Joint Development Area, where several large gas condensate fields have been discovered.
"This is one of two blocks in Thailand in which we will strengthen our partnership with Horizon and Tana. It is extremely promising acreage and marks a significant addition to our exploration portfolio in a country where the bulk of our crude oil production is located," says Chris Gibson-Robinson, Pearl COO.
Pearl Oil (Thailand) Ltd. will operate block G11/48 with 50%. The remaining 50% interest will be shared equally between Horizon and Tana.
2/6/2007