PTTEP takes operatorship of Erawan, Bongkot fields
Thai state-owned PTTEP has become the official operator of the G1/61 and the G2/61 projects, the company said on April 25. The G1/61 project contains the Erawan, Platong, Satun and Funan fields while G2/61 project contains the Bongkot field.
The company has continued its operatorship in the Bongkot field, and the G1/61 project was transferred from US major Chevron to PTTEP. The natural gas production rate at the G1/61 stands at 376mn ft3/day. PTTEP said that due to the absence of continuous development and drilling activity prior to the operatorship transfer, the production rate will gradually decline from the exit rate.
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PTTEP said it will continue to produce natural gas from the remaining resources of the existing production wells. Therefore, the production rate will initially stay at approximately 250-300mn ft3/day. The company will thereafter execute its plan to ramp up the production rate to 800mn ft3/day within April 2024.
Execution plan includes the acceleration of eight wellhead platforms and subsea pipeline installation, drilling campaign of 183 production wells and procurement of additional two drilling rigs for another 52 production wells are all in place. PTTEP will also conduct equipment and system inspections as well as maintenance schedules to ensure the readiness and safety of the petroleum production.
With regards to the G2/61, the production will proceed accordingly to the work plan that sets to produce 700mn ft3/day of natural gas, the company said. PTTEP now has full ownership of the Bongkot field and has a 60% interest in the Erawan with partner Mubadala Petroleum owing the rest.
In order to meet natural gas demand while the increase of production capacity at the G1/61 project is underway, PTTEP said it will attempt to boost the production rates of the Bongkot field, the Arthit project and the MTJDA project by approximately 125mn ft3/day, 60mn ft3/day, and 30-50mn ft3/day, respectively. In total, the production output will be raised by 200-250mn ft3/day, the company said.