Tue. Jun 18th, 2024

PTTEP Increases Natural Gas Production from Former Chevron-Operated Block Offshore Thailand

PTTEP has ramped up its G1/61 Project’s sales volume to 800 MMcfd as planned. The increased natural gas delivery will help minimize the impact of electricity prices and enhance national energy security.

Mr. Montri Rawanchaikul, Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), said that PTTEP won the bid for the G1/61 in the Gulf of Thailand from the Department of Mineral Fuels in 2018 and signed the Production Sharing Contract (PSC) in 2019. The G1/61 project includes the Erawan, Platong, Satun and Funan fields, as well as the G2/61 project, which includes the Bongkot field.

After becoming the operator, PTTEP put all efforts into speeding up the natural gas production rate and improving the integrity of facilities and equipment to ensure safety. To date, 12 wellhead platforms and subsea pipelines have been installed, along with the drilling campaign of more than 300 producing wells. The natural gas delivery is increased to 800 MMcfd to serve the energy demand and support Thailand’s economy.

“Increasing natural gas delivery from the G1/61 Project has been PTTEP’s priority over the past two years. As gas from the Gulf of Thailand is a primary source of energy serving both households and industries, PTTEP, therefore has accelerated all operations to ramp up the production.

“Today, the G1/61 project starts to produce natural gas at 800 MMSCFD. The achievement is attributed to the determination of all employees and supports from the government and related agencies to not only mitigate the impact of energy prices but also sustain energy security for the country,” Mr. Montri said.

PTTEP will continue the annual workplan by installing new 8 wellhead platforms and drilling more than 300 producing wells for the G1/61 project. For 2024, investment worth approximately THB 30,000 million has been set aside to carry on the project as one of the primary energy sources for the country’s energy security in the long term.

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