ChevronTexaco is aiming to double production from the Gulf of Thailand by the end of 2002. The company is interested in two more blocks located in the Gulf of Thailand which could increase production to 80,000 barrels per day. ChevronTexaco began production from the Gulf of Thailand in 1997 in Block B8/32. Currently, the company is producing 185 million cubic feet of gas per day and 43,000 barrels of oil per day. Block B8/32 covers 1,120 square miles and hold reserves of 2.1 trillion cubic feet of gas and 400 million barrels of oil.
The company has also been awarded an exploration contract with neighboring Cambodia in Block A. ChevronTexaco plans to drill between six and ten wells by the first quarter of 2003.
ChevronTexaco will receive a renewal on its Block A9 concession when the conflict of overlapping claims with Vietnam have been resolved. Negotiations are also continuing with the Thai government for a larger stake in Block G4/43.