Manora Oil Development Offshore Thailand Gets Nod to Proceed
The Manora oil development, offshore Thailand, is scheduled to proceed after the joint venture partners of the project reached a final investment decision, Australia's Tap Oil which is one of partners confirmed in a presentation released Monday.
The $246 million project will see a single wellhead platform linked to a floating, storage and offtake unit and the drilling of 15 development wells consisting of 10 production wells and five injection wells.
Tap said that several prospects are being finalized based on recently acquired 3D seismic. The project has also secured a rig to dill up to three wells later this year, and drilling is scheduled to start in the second half of this year. Tap's presentation shows that a total of six prospects had been identified on the western flank of the northern Kra basin.
"The JV will likely be able to achieve drilling three wells. However, as details of the project are still under discussion, we will not be able to reveal more information," a spokesperson representing Tap told Rigzone.
First oil from Manora is being targeted for early 2014 with output expected to peak at about 15,000 barrels per day (bopd), of which Tap's share is around 4,500 bopd.
The Manora oil development consist of two offshore concessions – G1/48 and G3/48 – sited in the northern Gulf of Thailand. The two concessions could contain up to 31 million barrels of recoverable oil resources, of which 9.3 million barrels of recoverable oil resources could be Tap's share.
Pearl Oil (Amata) is the operator of G1/48 with a 40-percent stake. The remaining stake in the concession are held by Pearl Energy (G1) (20%), Northern Gulf Petroleum (10%) and Tap Energy (Thailand) (30%).
Pearl Oil (Amata) is also the operator of G3/48 with a 60 percent stake. Northern Gulf Thailand holds the remaining 40 percent stake. Tap has an indirect interest in G3/48 as it holds a 75 percent stake in Northern Gulf Thailand.
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