Thailand’s PTTEP has issued the first in what is expected to be a series of tenders linked to the development of its gas assets in the Gulf of Thailand and the Gulf of Martaban, writes Tan Hwee Hwee.
PTTEP has called on four contractors operating out of Thailand to submit bids later this week for a long-term contract involving the engineering, construction, installation and commissioning of seven wellhead platforms in the Gulf of Thailand.
The contract, which comes with an option tied to seven further similar structures, is expected to be carried out over the next three to four years.
Some sources suggest the multi-platform project is intended to keep up production in the producing Bongkot and Bongkot North fields off Thailand.
The partners of the Bongkot and Bongkot North fields intend to maintain combined production in the two fields at over one billion cubic feet per day of gas and 33,000 barrels per day of condensate. As with the previous bid rounds for PTTEP’s projects in Thailand, the tender for the multi-platform contract was issued to only yard operators active in the South-east Asian country.
The state player has extended the invitation to bid to three long-time contractors — Thai Nippon Steel, Cuel and Clough Thailand.
Arv Offshore was considering putting in a joint bid with India’s Punj Lloyd, based on a proposal to develop in the Gulf of Thailand, but its participation could not be confirmed as Upstream went to press.
The long-term contract is among several multi-platform deals PTTEP is expected to issue from late 2012 through 2013.
The Thai national oil company sounded out the market earlier this year for a multi-year bundle contract to replace its deal with Thai Nippon Steel.
The bundle deal was expected to cover over 20 wellhead platforms in both the Arthit and Bongkot fields, suggesting room for either further bid rounds or an extension of the long-term contract now subject to a tender process.
The state player is also said to be looking at adding three more wellhead platforms under the phase 1B development for the Zawtika field in Block M9, even as construction is ongoing on the infrastructure for the phase 1A development of the Burmese gas project.
The central processing platform for Zawtika phase 1A development is due to be loaded out from Singapore-based SMOE in the second half of 2013.
PTTEP aims to boost production from its existing assets to 600,000 barrels of oil equivalent per day by 2020.
About 250,000 boepd will stem from domestic production.