PTTEP develops Shams, sells gas to Oman

Thailand's state-owned PTT Exploration & Production PLC (PTTEP) plans to invest $50 million this year to further develop Shams field on Block 44 in Oman, including the drilling of two more development wells.

March 2, 2005

By an OGJ correspondent

BANGKOK, Mar. 1 -- Thailand's state-owned PTT Exploration & Production PLC (PTTEP) plans to invest $50 million this year to further develop Shams field on Block 44 in Oman, including the drilling of two more development wells.

PTTEP has signed a heads of agreement (HOA) to sell Oman about 50 MMcfd of natural gas from the field beginning in the fourth quarter. The HOA is a prelude to a more detailed agreement expected soon.

Shams, which also is capable of producing 3,000 b/d of condensate, is in what PTTEP described as a "high-potential area" on 1,162 sq km adjacent to Safah oil field.

PTTEP also is drilling an exploration well on the southern area of Block 44, targeting oil.