PTTEP Announces Discovery in Arthit Field

PTT Exploration and Production Public Co., Ltd., the operator of Arthit Field in the Gulf of Thailand, announced that the company successfully discovered high hydrocarbon potential in the first 5 of 10 wells in the second exploration drilling campaign.

Located in B 14A, 15A and 16A in the Gulf of Thailand, the discovery area is 35 kilometers northeast of the Bongkot field, the largest natural gas field in the Gulf of Thailand, also operated by PTTEP.

After PTTEP drilled the seven exploratory wells in the first drilling campaign in 1999-2000. The drilling results confirmed positive discovery of gas and condensate, encouraging PTTEP to continue another campaign. The Company therefore defined the core acreage to drill more 10 exploratory wells in its second drilling campaign this year.

The result of the first 5 test wells of this campaign are as below:

  • Arthit-16-2x, spudded on 31 May 2001, was successful with a total gas sand thickness of 39 meters. Testing of the combined flow rate showed 14 MMSCFD plus 472 barrels per day of condensate.
  • Arthit16-3X, spudded on 26 June 2001, was successful with total gas sand thickness of 68 meters. Testing of the combined flow rate showed 15 MMSCFD plus 213 barrels per day of condensate.
  • Arthit14-1X, spudded on 27 July 2001, was successful with total gas sand thickness of 35 meters. Testing of the combined flow rate showed 32 MMSCFD plus high flow rate of condensate 760 barrels per day.
  • Arthit14-2X, spudded on 20 August 2001, was declared non-commercial.
  • Arthit14-3X, spuded on 26 August 2001, was successful with total gas sand thickness of 55 meters. Testing of the combined flow rate showed 53 MMSCFD plus 232 barrels per day of condensate.

Chitrapongse Kwangsukstith, PTTEP President said, “The success performance and results from the first half of this campaign not only proved the high potential of hydrocarbons in Arthit Field’s core area but also proved the capabilities of PTTEP as competitive Thai operator in the Gulf of Thailand. We have definite improvement in term of less time, low cost and high performance”

PTTEP holds 80 percent of Arthit Project. Other joint venture partners are Unocal Thailand, Ltd. with 16%) and Mitsui Oil Exploration with 4%.

“ In Arthit 14-1x, we found a high yield of liquid hydrocarbons. PTTEP therefore planned to enlarge the campaign by further drilling activities after finishing the second drilling campaign. It is also aimed at proving core area to define conceptual study in order to assure that there will be more indigenous and environmental-friendly natural gas supply for Thailand. In this drilling campaign, the Trident 15 Drilling Rig will be moved to drill exploration wells in Southern Area of Bongkot Field. The synergy of rig usage is for operational cost reduction " Chitrapongse concluded. PTTEP is the Operator of Bongkot Gas Field, the largest natural gas field in the Gulf of Thailand, which supplies 35% of national gas demand.

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