KrisEnergy gives go-ahead for Wassana oil development

An independent upstream oil and gas company KrisEnergy Ltd., announced that oil production from the Wassana oil field in the G10/48 concession in the Gulf of Thailand commenced on 14 August 2015. KrisEnergy became the operator of the G10/48 block in May 2014.

Wassana oil rig - Gulf of Thailand

Chris Gibson-Robinson, Director Exploration & Production, commented: “Wassana is KrisEnergy’s first operated oil project and the start of production marks a major milestone in the Company’s evolution. Work is now underway to bring another five wells on stream and to optimise production in this initial wave of drilling. This field is the first of a series of KrisEnergy-operated developments we are working on in Thailand, Cambodia and Indonesia.”

Wassana production is expected to reach a peak rate of approximately 10,000 barrels of oil per day (“bopd”) as additional development wells are drilled and completed by the Key Gibraltar jack-up rig. Up to 15 development wells are planned, 14 producer wells and one water disposal well. The Wassana infrastructure comprises a mobile offshore production unit (“MOPU”), the MOPU Ingenium, a mooring buoy and the Rubicon Vantage floating storage offloading vessel.

The G10/48 contract area covers 4,696 sq. km over the Southern Pattani Basin in water depths of up to 60 metres. The contract area contains three other discoveries – Niramai and Mayura from 2009 and Rayrai in 2015. KrisEnergy holds an effective 89% working interest in G10/48 and Palang Sophon Offshore holds an effective 11% working interest.

The Gulf of Thailand is a core operational area for KrisEnergy. The Company has non-operated working interests in the B8/32, B9A and G11/48 producing blocks and is the operator of G10/48 and G6/48, where it drilled four successful exploration wells in 2015 and has subsequently submitted a plan of development for the Rossukon oil field. It also operates Block A across the maritime border in Cambodian waters, where it is seeking to develop the Apsara oil field.

Click here for a video animation on the Wassana project.