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.
Operates 1 Offshore Rigs
- Exxon Mobil Bets on Brazil, Buys 10 Oil Blocks in Auction (Sep 28)
- Murphy Oil CEO: Now is the Time for Deepwater to Come Back (May 02)
- Pilot Energy Inks Deal to Acquire Murphy's Stake in Permit WA-481-P Off WA (Jul 27)
Company: PTT Exploration & Production Company Plc (PTTEP) more info
Operates 3 Offshore Rigs
- Thailand's PTTEP Seeks To Boost Reserves, Output In SE Asia (Mar 21)
- Thailand's PTTEP Delays Canadian Oil Sands Project At Cost Of $550MM (Oct 19)
- Thai PTTEP to Invest At Least $1.7B in 2017 to Maintain Output (Oct 03)