ChevronTexaco Makes Two Discoveries Offshore Thailand

ChevronTexaco's subsidiary, Chevron Offshore (Thailand) Ltd., has discovered oil and natural gas in two exploration wells in Block 9A in the Gulf of Thailand. The company is applying for a production area license for the two wells, Tantawan 23 and Tantawan 24.

Production from the wells will be tied into the existing oil and gas production facilities of the Tantawan field in adjacent Block B8/32, which is also operated by ChevronTexaco.

"We are very encouraged with the success of the drilling programs in Block 9A and B8/32 and the promising reserves in the Gulf of Thailand," Isikeli Taureka, managing director of Chevron Offshore (Thailand), said.

The block was awarded to ChevronTexaco and its partners in July. ChevronTexaco is the largest oil producer in the Gulf of Thailand, producing 55,000 barrels a day. The company also produces around 210 million standard cubic feet a day of gas.