KrisEnergy Makes Final Investment Decision at Wasanna

krisenergy pattani basin gulf of thailand
via KrisEnergy

KrisEnergy announced today they have made the final investment decision to drill upwards of 14 development wells at the Wasanna development in the Gulf of Thailand at G10/48 as well as acquire a converted Bethlehem matt-type jack-up rig for use as a mobile offshore production unit (MOPU).  The rig will process and route upwards of 20,000 bbls/day of hydrocarbons to a floating storage unit.

The development will be drilled over a 6 month period using Shelf Drilling’s jack-up rig Key Gibraltar.

KrisEnergy notes the MOPU is currently operating offshore Malaysia and is capable of operating in water depths of up to 65 meters and has a water injection capability of up to 15,000 barrels/day.  Delivery of the rig is planned for September 2014 and production is scheduled to begin in 2H 2015.

KrisEnergy holds 100% working interest in G10/48, which covers 4,696 sq km over the southern section of the Pattani Basin in water depths up to 60 meters. The license contains three oil discoveries – Wassana, Niramai and Mayura – in various stages of development or appraisal.

The Wassana oil field is expected to reach a peak production of 10,000 bopd.

Chris Gibson-Robinson, KrisEnergy’s Director Exploration & Production, commented on the decision,

“Having taken over operatorship of G10/48 in mid-May we are making good headway in advancing the Wassana development. The MOPU solution is efficient both in timing and costs, but also provides the flexibility to look at future commercialisation of other discoveries in the G10/48 licence area. We have also mapped a portfolio of prospects and leads in this block, some of which will provide additional development areas once we have completed further exploration drilling.”