Thai Shell seeking to farm out acreage off Thailand
Thai Shell Exploration & Production Co., part of the Royal Dutch/Shell Group, is looking to farm out acreage off Thailand. Thai Shell executives said they would rather concentrate on developing onshore Block S1 in northern Thailand.
By an OGJ Online Correspondent
BANGKOK, Apr. 25 -- Thai Shell Exploration & Production Co., part of the Royal Dutch/Shell Group, is looking to farm out acreage off Thailand.
Thai Shell Managing Director Campbell Keir said a partner for the wholly owned Block B6/27 would enable Shell to concentrate on development of its onshore Thai concession.
Thai Shell is looking for a company to operate block B6/27, covering 1,307 sq km off the Chumphon coast and including Nang Nuan, Thailand's first offshore oil field.
Keir said Thai Shell would rather concentrate its efforts on developing Block S1 in the Thai northern provinces of Kamphaeng Phet and Phitsanulok, he said.
Block S1 has produced crude, mainly from Sirikit field, since January 1983. It covers more than 1,227 sq km. Thai Shell wants to extend its oil production for another decade and also increase its output.
Already, Block S1 has yielded 128 million bbl of oil and 276 bcf of gas.
Thai Shell plans to spend 80% more this year on development than last year. The $75 million budget underscores its effort to sustain crude output from both on and offshore concessions.
It plans to revive oil production from Nang Nuan field, shut in 4 years ago because of technical problems (OGJ Online, Jan. 2, 2001).