Rick Wilkinson
OGJ Correspondent
MELBOURNE, Jan. 29 -- Thailand has awarded a second exploration block—the G11/48 concession in the Gulf of Thailand—to a consortium led by operator Pearl Energy Ltd. 50%. Its partners are Sydney-based Horizon Oil Ltd. and Tania Oil & Gas, which hold a 25% interest each.
The 13,600 sq km block lies immediately west of 4 tcf Bongkot gas field in the northern sector of the Malay basin.
It is adjacent to the G10/48 Block awarded to the same consortium in December of last year.
Both blocks are in a well-understood, relatively low-risk fairway containing large-scale targets, said Horizon managing director Brent Emmett. Operating conditions are benign, oil field services and infrastructure are abundant, and there is high local demand for both oil and gas, he said.
The consortium will begin work by reprocessing existing seismic data and shooting a new survey over the most promising prospects. Pearl will drill at least four wells beginning late this year or in early 2008.
