Apr 2021: KrisEnergy has received the independent review of the Apsara field’s performance of the 5 wells since they were brought online and conclude that ultimate recovery is likely to be a small fraction of pre-development estimates. This is probably because of geological complexity leading to smaller oil accumulations. It will significantly reduce revenues.
Mar 2021: Performance from KrisEnergy’s offshore Apsara Mini Phase 1A oilfield development has been below expectations. Onstream in December 2020 from 5 wells peak production is only 3,534 bbls of oil per day. Reservoirs encountered in the 5 development wells are less continuous than anticipated and the company may struggle to continue.
Dec 2020: KrisEnergy (operator, 95%) started producing oil from the Apsara field in offshore Block A, Khmer Basin, on 28 December from a single development well. Production will increase to a plateau from a total of 5 wells in the 1st Phase. Peak production rate is estimated at 7,500 bbls per day by February 2021. The remaining 5% is held by the General Department of State Property and Non-Tax Revenue.
Nov 2020: KrisEnergy is seeking a further extension for start-up of the Apsara oil development in Block A, Gulf of Thailand. Despite Covid-19 restrictions all main components of Phase 1A infrastructure are in place and in October the jackup (PVD III) started drilling the 1st of 5 development wells.
Aug 2020: KrisEnergy announced that fabrication of the WHP (Mini-Platform) for the Apsara field in Block A, Khmer Basin, is now being transported from Batam for installation. The Mini Phase 1A development also includes 5 development wells connected to the Ingenium II production barge. Output is planned for 7,500 bbls of oil per day.
Mar 2020: KrisEnergy expects first oil from the offshore Apsara field in block A around mid-2020. Upgrading of the Ingenium II production barge continues in Singapore and construction of the topsides and jacket for the wellhead platform, for 5 development wells, started in December 2019 on Batam Island in Indonesia.
Nov 2019: KrisEnergy has updated on its Apsara field in offshore block A including upgrading of the production barge, new living quarters and helideck, a second drydock, power generation units and electrical switch rooms. Meanwhile processing is under way of the new 3D seismic.
Jul 2019: KrisEnergy announced that the 1,200 sq km 3D seismic survey in Block A has been completed.
Jun 2019: KrisEnergy announced the beginning of a 1,200 sq km 3D seismic survey in Khmer Basin Block A where it is developing the Apsara oil field. Around 200 sq kms will be acquired over Apsara ahead of development drilling for first oil.
No significant news in 2018.
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.
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.
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.
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.
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.
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 in the short term under current conditions in Cambodia). The company has drilled 18 wells in the Block and will develop it under a production sharing contract.