KrisEnergy in Gulf of Thailand spud

Getting to work: The West Cressida spuds for KrisEnergy in the Gulf of Thailand

KrisEnergy has spudded an exploration well in the Gulf of Thailand where it has recently taken a final investment decision on an oilfield development.

The Singaporean player spun the bit on the Mancharee-1 commitment wildcat in Block G10/48 with Seadrill’s jack-up West Cressida.

The well, which sits in water depths of around 52 metres, will be drilled to around 3785 metres to evaluate a series of stacked sandstone reservoirs of Miocene and Oligocene age.

Seadrill’s fleet status report shows that Thailand’s PTTET had the rig until August at $129,500 a day.

KrisEnergy took over a 100% operated interest in G10/48 from Mubadala Petroleum earlier this year in a $102.5 million deal.

The licence covers 4969 square kilometres in the southern section of the Pattani basin and contains three oil discoveries – Wassana, Niramai and Mayura.

In late June KrisEnergy gave the green light for the Wassana field development that will comprise a mobile offshore production unit and 12-14 development wells producing to a floating production, storage and offloading vessel.

KrisEnergy has already secured a converted Bethlehem Matt Type jack-up rig, which is currently being employed as an MOPU off Malaysia. It will take delivery of the unit in September when it will go into drydock for inspection and minor refurbishments.

The unit is capable of operating in water depths of up to 65 metres, can process 20,000 barrels of oil per day and has a water injection capacity of 15,000 bpd.

The Wassana oilfield is expected to come online in the second half of 2015, with peak production tipped to hit 10,000 bpd.

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