Wassana oil field production suspended in Gulf of Thailand

KrisEnergy Ltd. will suspend production from Wassana oil field in the G10/48 concession in the Gulf of Thailand until further notice. The suspension is due to uncertainties surrounding duration of the COVID-19 pandemic, speed of global economic regeneration and recovery in petroleum demand, and the magnitude and sustainability of any upturn in oil prices. Relevant authorities in Thailand have been informed.

First onstream in August 2015, Wassana comprises a mobile offshore production unit (MOPU) and a floating storage and offloading vessel (FSO). Gross production averaged 3,605 bo/d in first-quarter 2020. Agreements with respect to the FSO have been terminated. The company is in discussions for warm-stacking the MOPU with a skeleton crew, supported from Songkhla shore base. The company will reduce its workforce in Thailand by about 25%.

Operations at remaining assets—B8/32 oil and gas fields in the Gulf of Thailand and Bangora gas field in Block 9, onshore Bangladesh—continue as usual.

KrisEnergy holds 89.0% working interest and is operator in G10/48. Palang Sophon Offshore holds the remaining 11%.