BANGKOK, June 13 -- The European-Thai consortium developing Bongkot gas field off Thailand has decided to acquire a tanker to store produced condensate.
A tanker previously used for the purpose developed leaks and had to be replaced.
The group had considered building a concrete subsea storage tank, but it would cost $20-$30 million more than the tanker.
A 400,000 bbl floating storage unit will cost $50-$60 million and take 1 year to install. Meanwhile, a temporary unit is in place.
The group is led by PTT Exploration & Production PLC, an affiliate of Petroleum Authority of Thailand, and includes TotalFinaElf SA and BG Group.
The consortium is trying to sustain Bongkot field at 635 MMcfd and 15,000 b/d of condensate (OGJ Online, Apr. 27, 2001).