BANGKOK�Thailand has issued a license to produce gas and condensate from a field in the Gulf of Thailand. North Jarmjuree is the fourth in the Chevron Corp.-operated block B8/32 concession tract. The Thai Department of Mineral Resources will allow Chevron Offshore Thailand Ltd. to develop 500 MMcfd of natural gas equivalent hydrocarbons reserves from the North Jarmjuree field for Thai domestic use.
Chevron will bring North Jarmjuree on stream at 50 MMcfd of gas in early 2003, ramping up to 190 MMcfd plus 6,000 b/d of condensate in 2005.
Developing the field is expected to cost more than $200 million, including up to eight platforms and 60 wells, said Jay Pryor, managing director of Chevron Offshore Thailand.
North Jarmjuree field is about 125 miles off Bangkok in 250 ft of water. The field was declared commercial in late 1999, following the drilling of the Jarmjuree-4 well, one of several successful wildcats in this geologic trend.
Pryor said North Jarmjuree is one of the four fields in block B8/32, which ltogether contain more than 2.5 tcf of gas and 350 million bbl of oil. The others are Tantawan, Benchamas, and Maliwan.
Chevron Offshore is producing 145 MMcfd of gas and 35,000 b/d of oil from Tantawan and Benchamas. Chevron is Thailand's largest oil producer.
Pryor said North Jarmjuree output will extend production to the western edge of the block. It is also adjacent to other prospects that will be explored later.
Partners with Chevron in the B8/32 concession are Thaipo Ltd., a unit of US-based Pogo Producing Co., which holds 46.34%, and Bangkok-based Palang Sophon Ltd., 2%.
Chevron holds 51.66% interest in the block, which it acquired as a result of its purchase of Rutherford Moran Oil Corp. last year. Chevron assumed operatorship in October 1999.