KrisEnergy Ltd., a Singaproe-based independent upstream oil and gas company, reported Monday that it has secured government approval for the Rossukon Production Area in the Gulf of Thailand.
The Department of Mineral Fuels (DMF), Thailand's upstream regulator, approved the Production Area Application (PAA) for the area -- covering 33.88 square miles (87.74 square kilometers) -- containing the offshore Rossukon oil discovery in Block G6/48 over the Karawake Basin in the Gulf of Thailand.
Earlier this year, KrisEnergy drilled two exploration wells and two intentional sidetrack wells in the Rossukon area, with each well encountering oil and gas, adding to volumes from the original Rossukon discovery made in 2009. The Rossukon PAA was submitted to the DMF in June.
“The results of our exploration program earlier this year justified the submission of the PAA and we are extremely pleased with the outcome of our application. We have six licenses in the Gulf of Thailand, four of which are now in production following the start-up of the Wassana and Nong Yao fields this year. The approval of the Rossukon PAA is a step closer to getting our fifth field into development and production in the near-term and underpins our strategy to make the Gulf of Thailand a core area in the KrisEnergy portfolio,” Chris Gibson-Robinson, director Exploration & Production, said in the press release.
KrisEnergy operates Block G6/48, holding a 30 percent working interest, with partners Northern Gulf Petroleum Pte Ltd. and Mubadala Petroleum holding 40 percent and 30 percent share in the concession, respectively.
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