Mubadala to curtail 2020 Manora field activities

Mubadala Petroleum (Thailand) Ltd. and Tap Oil Ltd. have cancelled or deferred noncritical 2020 expenditure originally planned for Manora oil field, Thailand.

The 2020 Manora work program and budget has been reduced by $14 million, said partner Tap Oil as part of its first quarter report. A $3.9 million (gross) exploration well and $7.3 million (gross) in operating capital and workover costs were cancelled. Up to $2.8 million in capital expenditures were deferred until 2021. 

The partners are working to identify further infill drilling opportunities to maintain Manora production and have undertaken extensive technical analysis on a three well 2020 development drilling and workover program. Choice of wells, drilling locations, volumes, and risks have been evaluated and the partners are considering economics, cost, production optimization, and risk mitigation opportunities before making a final investment decision.

Manora field lies in the G1/48 concession, Gulf of Thailand, in 44 m of water about 80 km from the coast. It is estimated to hold 20 million bbl (gross). First quarter 2020 production averaged 5,536 b/d, at least 5.0% above the partners’ base 2020 plan.

Mubadala Petroleum is operator of the field with 60% interest. Tap Energy holds 30% interest while Northern Gulf Petroleum holds the remaining 10%.