The Arthit Field, currently in its exploration stage, is located 250 kilometers east of Songkhla, and comprises blocks B14A, B15A and B16A. PTTEP conducted the 3-D Seismic Survey for the entire area in 1998. In 1999 and 2000, the Company drilled seven exploratory wells during the first drilling campaign in B15A and B16A. Drilling results confirmed positive discovery of gas and condensate. The company proceeded with drilling an additional 11 exploratory and appraisal wells in the second drilling campaign in 2001. With encouraging results, the Company decided to continue drilling additional gas and condensate wells. In total, PTTEP drilled 14 exploratory and appraisal wells in this campaign.
All but one well out of the 21 exploratory and appraisal wells in both campaigns proved to be successful gas and condensate wells. Detailed results from the most recent 14 wells drilled in 2001 and 2002 are as follows:
Dr. Chitrapongse Kwangsukstith, the PTTEP President, stated, “Our discovery has shown that the Arthit Field contains a significant amount of gas and condensate reserves. Initial promising results from our first 11 wells in this second drilling campaign encouraged us to continue with three more wells. And we are very enthusiastic that these discoveries remain integral to our continued and concerted efforts to ensure that Thailand has access to long-term, clean and environmentally-friendly natural gas.”
The PTTEP President continued, “Not only has the success of this drilling campaign confirmed the significant presence of hydrocarbons in the exploration stage of Arthit Field equivalent to Bongkot, it has also highlighted PTTEP’s outstanding capabilities as a competitive Thai Operator in the Gulf of Thailand. Evidence of this lies in the remarkable improvements we have made in our drilling technology—when drilling, we now require less time, incur lower costs, and yet achieve higher performance. We remain firmly committed to developing Thailand’s petroleum resources, particularly so that the nation can reduce expensive imports, become ever more self-reliant, and ensure prosperity for the Thai people.”
PTTEP is operator of the Arthit Field, and owns 80% of this project. PTTEP’s co-concessionaires are Unocal Thailand, Ltd. (16%) and Moeco Thailand Co., Ltd., an affiliate of Mitsui Oil Exploration Co., Ltd. (4%).
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