Chevron, Apico Get Thailand OK for Production Rights in 2 Fields

BANGKOK - Thailand has granted production rights in two fields to Chevron Petroleum (Thailand) and Apico (Korat) Ltd., Songpope Polachan, director-general of the Department of Mineral Fuels, told reporters Wednesday.

Chevron won production rights in the Pakarang oil and gas field, covering 118.1 square kilometers in the Gulf of Thailand.

Mr. Songpope estimates Chevron will invest 19 billion baht ($604.9 million) in developing Pakarang, which is expected to start producing oil and gas in 2015.

The field is expected to produce 4,300 barrels per day of crude oil and 59 million standard cubic feet a day of natural gas.

Apico has been granted production rights in the Dong Mun gas field, covering 31.91 sq. km in northeast Thailand, he said, adding that Apico is expected to invest THB6.77 billion in the project.

Dong Mun will commence production in 2015 with an output capacity of 14 mmscf/d.

Copyright (c) 2012 Dow Jones & Company, Inc.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Petroleum / Facilities Engineering Specialist - Offshore
Expertise: Petroleum Engineering
Location: Houston, TX
Petroleum Engineer
Expertise: Petroleum Engineering
Location: Houston, TX
Reservoir Engineering (Oil / Gas Reservoir Management)
Expertise: Reservoir Engineering
Location: Houston, TX
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours