Mubadala Petroleum announced Thursday that production had commenced at the Nong Yao oil field, located in the southern Gulf of Thailand, on June 17.
The company expects production to reach a peak rate of around 10,000 barrels of oil per day as more wells are completed. Proved and probable gross reserves at Nong Yao’s primary reservoirs are estimated to be in the region of 12.4 million barrels, according to Mubadala.
Mubadala Petroleum Chief Executive Officer Musabbeh Al Kaabi commented in a company statement:
"This is another great milestone for Mubadala Petroleum, as the start of production from Nong Yao has been brought on efficiently, on time and most importantly safely. Nong Yao follows on the heels of the Manora field which started production in November 2014 and is currently producing at its peak rate of approximately 15,000 bopd.
"With three fields producing in Thailand, Jasmine, Manora and now Nong Yao, our gross production in Thailand will reach around 40,000 bopd during the second half of 2015. This is more than double the rate from a year ago and will make us Thailand’s second largest producer of black oil."
Mubadala Petroleum holds a 67.5 percent interest and is the operator of G11/48, where the Nong Yao field is located. KrisEnergy holds a 22.5 percent interest and Palang Sophon Limited the remaining 10 percent.
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