PTTEP Finds More Oil at Nang Nuan Project

PTT Exploration and Production Plc (PTTEP) has found more oil at Nang Nuan Project when an exploration well encountered an average flow rate of 9,050 barrels per day.

The exploration well NNN-A04ST was spudded on December 4, 2006 and drilled to a total depth of 3,205 meters. Test result indicated a maximum flow rate of approximately 9,700 barrels per day which is considered as significant for the Gulf of Thailand.

Mr. Maroot Mrigadat, President of PTTEP, said that "PTTEP is very pleased with the discovery. We are preparing to install a production platform and equipment to start oil production from this well by the second quarter of this year."

Nang Nuan Project is located in the Gulf of Thailand off the coast of Chumporn Province, covering an area of about 1,306 square kilometers. PTTEP which has held 100% interest and has been the operator since 2004, has so far produced 950,000 barrels of crude oil from this project.

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