Salamander Energy has agreed to farm-in to Block G4/50 in the Gulf of Thailand, earning equity in the acreage from Mitsui Oil Exploration.
Once the transaction is completed, Salamander will hold a 100% operating interest in the acreage, while MOECO will hold certain commercial options in the case of a future discovery.
Block G4/50 lies in the western Gulf of Thailand and surrounds the B8/38 license that contains the Bualuang oil field and Bualuang East Terrace oil discovery. The G4/50 license, spanning 2.8 million acres (11,650 square kilometers), is considered one of the largest blocks offshore Thailand. Once the operator gathers seismic data, a multiple-well exploration program will commence.
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