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E & P News

2017

Oct 2017: KrisEnergy (operator, 95%) has made the FID for Phase 1A development of the Apsara oil field in Block A in the Gulf of Thailand. It envisages an unmanned 24-slot wellhead platform producing to a moored production barge capable of processing up to 30,000 barrels of fluids per day. Oil will be then sent to an FSO. Phases 1B and 1C envisage up to 9 additional platforms.

Aug 2017: KrisEnergy has signed an agreement for Block A containing the Apsara oil discovery. The block is located in the Khmer Basin in the Gulf of Thailand and covers an area of 4,709 sq kms. Water depths range from 50 to 80m. First phase development plans include a platform with peak production of 8,000 bbls per day, with potential for 9 further platforms.

Mar 2017: KrisEnergy (operator, 95%) will sign a revised PSC, replacing the 2002 contract for Block A in the Khmer Basin.The company hopes to initially produce around 8,000 bbls per day early in the 2020s but needs to find a partner to back the development.

2016

Apr 2016: Mirach has received a letter from the Ministry of Mines and Energy (MME) terminated the Petroleum Agreement of Block D with immediate effect. However MME will hold Block D for a 6-month period and will not allow any other investor to bid, giving priority to Mirach.

Mar 2016: Mirach is finalizing plans for exploration drilling at Block D following the approval by the Cambodian Ministry of Mines and Energy (MME) to extend the exploration period for the permit till December 2018.

2015

Aug 2015: Mirach has received the official letter from the Ministry of Mines and Energy approving the final extension of the exploration period of Block D to December 2018. It hopes to start drilling as soon as possible.

Jun 2015: CPHL Cambodia (Mirach) has signed a Project Cooperation Agreement for  Offshore Block D with two subsidiaries of Landocean Energy Services. Three exploratory wells will be drilled in a 1+2 plan.

2014

Aug 2014: KrisEnergy has acquired Chevron Cambodia , operator of Block A in the Khmer basin in the Gulf of Thailand in water depths up to 80m. KrisEnergy will now hold 52.25% with MOECO (28.5%), GS Energy (14.25%) and CNPA (5%). Apsara Phase 1 is planned to include 24 wells on a platform with an FSO producing a peak of 10,000 bbls of oil per day.

Feb 2014: Chevron's plans to develop Cambodia's offshore Block A in the Gulf of Thailand is still being delayed due to disagreements on taxation. A final investment decision for Block A is expected after an agreement on commercial terms and government approval of production permit are in place. Chevron has a 30 % interest in Block A and plans consist of a wellhead platform and an FSO.

2013

Nov 2013: The government is continuing talks with Chevron regarding the delayed Block A offshore project that would be Cambodia’s first indigenous hydrocarbon development.

2012

Sep 2012: The government intends to issue a licence to develop offshore Block A to Chevron by the end of 2012. Chevron discovered oil and gas resources in 2010 and hopes that development can begin in 2013 (Globalshift notes: this is unlikely under current conditions in Cambodia). The company has drilled 18 wells in the Block and will develop it under a production sharing contract.

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