PTTEP to focus on liquids production

High oil prices and slow-growing Thailand gas demand have prompted PTT Exploration & Production PCL to gear exploration and development towards liquids. PTTEP is considering bringing crude and condensate from Arthit field, a promising Gulf of Thailand gas field, on early production.
June 14, 2001

By an OGJ Online Correspondent

BANGKOK, June 14 -- High oil prices and slow-growing Thailand gas demand have prompted PTT Exploration & Production PCL to gear exploration and development towards liquids.

President Chitrapongse Kwangsukstith said the state controlled firm is adopting the same approach that Chevron Corp. and Unocal Corp. have taken (OGJ Online, Mar. 22, 2001).

PTTEP is considering bringing crude and condensate from Arthit, a promising Gulf of Thailand gas field, on early production. It had not expected to bring Arthit on flow until 2005, when gas demand was expected to increase (OGJ Online, Feb. 5, 2001).

PTTEP said it also may choose to develop wells that yield more condensate than gas at Bongkot field, which it operates in the Gulf of Thailand. Bongkot produces 15,000 b/d of condensate and 550 MMcfd of gas.

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