Tuesday, October 2, 2007

PTTEP starts oil surveys in northeast Thailand

Blocks L21/48, L28/48 and L29/48 cover an area of 12,000 sq.km. in Udon Thani, Nong Bualamphu, Khon Kaen, Maha Sarakham, Chaiyaphum, Buriram and Nakhon Ratchasima Provinces

PTT Exploration and Production Public Company Limited, or PTTEP, plans to begin seismic surveys in the recently acquired Blocks L21/48, L28/48 and L29/48 in the northeastern part of Thailand early next year. It includes 1,200 kilometers line of 2D seismic data acquisition in some parts of Udonthani, Khon Kaen, Nakhon Ratchasima, and Chaiyaphum Provinces.

The survey will begin after the Office of Natural Resources and Environmental Policy and Planning approves the Environmental Impact Assessment (EIA) which is expected in January 2008 and will continue until April.

According to PTTEP, the northeastern region of Thailand has a high petroleum potential.

In addition to the already established Nam Phong and Sin Phu Horm fields, more oil and gas discoveries in the northeast will benefit the country by helping to reduce petroleum imports and adding to national energy security, the company said, adding that "if successful, the new blocks will serve long term energy demand in the area."

PTTEP President, Mr. Maroot Mrigadat said, “Firstly, the seismic surveys will be made. If we find petroleum potential in the area, we will then drill exploration wells. You can be sure that we will conduct exploration and production activities in keeping with the highest safety, security, health and environment (SSHE) standards.”

Blocks L21/48, L28/48 and L29/48 cover an area of 12,000 sq.km. in Udon Thani, Nong Bualamphu, Khon Kaen, Maha Sarakham, Chaiyaphum, Buriram and Nakhon Ratchasima Provinces.

PTTEP Siam Limited, a subsidiary of PTTEP, is the operator with 70 percent share. Its partner is Resourceful Petroleum (Thailand) Limited or RPL which has 30 percent stake.

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