Coastal Energy Plans 3D Survey in Gulf of Thailand

Coastal Energy Company said that it will conduct an extensive 3D seismic survey over its wholly owned offshore block G5/43 in the Gulf of Thailand. Under the signed agreement with Petroleum Geo-Services Asia Pacific Pte. Ltd. (PGS) the seismic survey is scheduled to commence in early December and is expected to take approximately 14 days to complete.

The PGS vessel M/V Nordic Explorer will acquire approximately 330 square kilometers of high resolution 3D data over the entire western portion of the Songkhla basin in block G5/43. The area to be covered will include the Bua Ban oil field where three appraisal wells were drilled last year and proven and probable recoverable reserves are estimated at 9.7 million barrels, as confirmed by an independent engineering report prepared by Petrotech Ltd. The survey will provide high-resolution seismic data that will assist in finalizing the fast track development plan of the Bua Ban field and in addition, delineate future exploration prospects that have already been identified by 2D seismic data.

The survey will also include the Benjarong field located to the south of Bua Ban, which the company believes, could be of similar reserve size to Bua Ban and several untested prospects in the northwestern part of the Songkhla basin.

This survey will complement an existing 3D seismic survey that covers the Songkhla and Songkhla southwest fields located to the east of the Bua Ban and Benjarong fields. The Songkhla field has also been targeted by the company as a fast track development and development planning has already commenced for the field.