By an OGJ Online Correspondent
BANGKOK, Apr. 16 -- Thai Shell Exploration & Production Co., a subsidiary of Royal Dutch/Shell Group, has increased its estimated petroleum reserves through secondary recovery techniques and exploration success.
Thai Shell increased reserves in Greater Sirikit field as of Dec. 31 by 8.8% to 148 million bbl of oil and boosted gas reserves by 1.2% to 250 bcf.
In production since 1982, Sirikit and its sister fields produced 128.1 million bbl of oil and 276 bcf of gas by Dec. 31.
Thai Shell said a successful waterflood at Greater Sirikit field will extend its current production plateau of 24,000 b/d of oil and 60 MMcfd of gas for 10-12 years.
Future exploration could prolong the present production rate for up to 20 years, Thai Shell said.
More reserves may be generated from proposed development projects planned in the 1,227 sq km straddling Kamphaeng Phet, Phitsanulok, and Sukhothai provinces in northern Thailand.
Much of the increased reserves came from waterflood projects in Sirikit West and Thap Raet fields. The rest came from improved performance of existing wells during 2000.
Thai Shell plans to increase development spending by more than 80% this year to $75 million. It will sustain crude output from Sirikit field and revive oil production from a Gulf of Thailand field shut in 4 years ago (OGJ Online, Jan. 2, 2001).
Thai Shell on Apr. 3 started a two-well drilling campaign in its oil-bearing B6/27 block in the gulf. The wells will be drilled back to back in Nang Nuan field, which produced 4.25 million bbl of oil before excessive water intrusion halted production in January 1997.
The company hopes to resume oil production from the reentered well at 10,000-20,000 b/d in the third quarter. Nang Nuan B01's peak production was 12,000 b/d.
