Coastal gets nod to start Songkhla field production
Coastal Energy Co. received a government permit to start oil production from the Songkhla field and satellite prospects on Block G5/43 in the Gulf of Thailand.
By an OGJ correspondent
BANGKOK, June 21 -- Coastal Energy Co. received a government permit to start oil production from the Songkhla field and satellite prospects on Block G5/43 in the Gulf of Thailand.
The production license covers 75 sq km where proved, probable, and possible reserves are estimated at 6.4 million bbl. The area contains eight identified prospects with 200 million bbl potential oil in place.
Coastal plans to start production from Songkhla in the first quarter of 2009, with production drilling expected to commence in August.
Coastal Chief Executive Randy Bartley said delays in the arrival of the Swiber-1 jack up rig will not affect the targeted production start-up date.
"There will be sufficient time to predrill 5-6 development wells at Songkhla prior to platform arrival in late September," Bartley said.
The company is scheduled to begin drilling nine appraisal wells in the nearby Bua Ban prospects in early 2009.
Bua Ban has sufficient proved reserves without additional drilling to justify proceeding with platform and facility development in late second quarter 2009, he said.
Coastal holds 100% interest in the 8,500 sq-km tract in water less than 25 m in the southwestern part of the gulf.