PTTEP, Murphy Successfully Bid on Australian Block

PTTEP announced that PTTEP Australia Offshore Pty Ltd. (PTTEP AO) together with Murphy Australia Oil Pty Ltd. have been confirmed by the Australian authority, as successful bidders of the concession block WA-423-P in Australia, in the Australia Petroleum Bidding Round 2008. The official grant date is November 13, 2008.

The joint ventures comprise of Murphy Australia Oil Pty Ltd. (Operator) and PTTEP AO with the participating interests of 70% and 30% respectively. Block WA-423-P is located offshore Australia with the approximate area of 4,000 square kilometers and the water depth of 50 - 70 meters. It is approximately 200 – 300 kilometers south of block AC/P36, which is PTTEP’s present exploration project.

The minimum commitments for the block are to conduct exploration activities, seismic surveys, technical studies and drill one exploration well in the first 3 years.
 

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