Australia's Carnarvon Petroleum is working with the new operator of its three onshore concessions in Thailand to develop an Oil Development Plan covering the multiple sandstones and the fractured volcanic reservoirs, Carnarvon said in a statement Wednesday.
The operator, Hong Kong and China Gas Company's wholly-owned subsidiary ECO Environmental Investments (ECO), and Carnarvon plan to initially target the Wichian Buri sandstone, Wichina Buri Extension (WBEXT) sandstone, Si Thep sandstone and the WBV1 and WBV2 volcanic within the WBEXT sandstone reservoirs.
The joint venture aims to drill 10 to 15 wells in the L44/43 concession, with the initial wells slated to appraise the recently discovered NS-4A sandstone and WBEXT WBV1 and WBV2 volcanic, Carnarvon's managing director Adrian Cook told Rigzone on Wednesday.
"The rig which will be used to drill these appraisal wells is Elite Rig 01," Cook said.
Carnarvon was assigned three onshore concessions in Thailand, SW1, L44/43 and L33/43, on December 31, 2011, a report published by the company in March 2012 shows. The three concessions contain in total proved reserves of 3.8 million barrels of oil, an independently certified reserves statement from Gaffney, Cline and Associates shows.
Carnarvon holds a 40-percent stake in the joint venture, while ECO holds the majority 60-percent stake.
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