BANGKOK, Thailand – PTTEP has confirmed its role as the official operator of two major gas field development concessions in the Gulf of Thailand.
G1/61 encompasses the Erawan, Platong, Satun and Funan fields, and G2/61 the Bongkot field. PTTEP has pledged to raise the fields’ gas production rates to support Thailand’s domestic needs: their current combined production capacity is 1,500 MMcf/d, accounting for 60% of the nation’s gas supply.
The new production sharing contract took effect on April 24. PTTEP was already operator of Bongkot, and assumed control of G1/61 from previous operator Chevron.
To ease the transition, PTTEP says it created a “war room” at the headquarters and production platforms, working closely with the Department of Mineral Fuels as well as Chevron.
When the final handover took place, the production rate at G1/61 was 376 MMcf/d, and will likely fall further due to intermittent recent development and drilling activity.
PTTEP added that it had not previously been given access the site to start preparations, including a proposed new drilling campaign, until late 2021 – around two years behind the plan.
The initial production rate will stay at around 250-300 MMcf/d, but thereafter should ramp up to 800 MMcf/d by April 2024. PTTEP plans to acceleration of construction of eight wellhead platforms and subsea pipelines, to drill 183 production wells and procure a further two rigs for another 52 production wells.
The company also plans equipment and system inspections and maintenance schedules.
PTTEP expects to raise output from Bongkot by around 125,000 MMcf/d, from the offshore Arthit project by 60 MMcf/d, and from the MTJDA project (in Thai/Malaysian aters) by 30-50 MMcf/d.
04.26.2022
