By an OGJ correspondent
BANGKOK, Aug. 28 -- Thailand's PTT Exploration & Production PLC (PTTEP) reported its first oil discovery in Myanmar's gas-prone Gulf of Martaban, but said the find was not considered commercial.
PTTEP said, nevertheless, it plans to explore further for larger oil reservoir structures in the Zatila-1 area on its wholly owned Block M9 about 300 km south of Yangon (OGJ Online, July 27, 2005).
The company will drill more exploration wells in gas-bearing structures to identify petroleum potential and establish a development plan for M9, said PTTEP Pres. Maroot Mrigadat.
PTTEP has spent $20 million drilling two wells on M9 and plans to drill 6-7 more on the 27,000 sq km block.
Drill stem tests conducted on the Zatila-1 exploration well flowed 30 b/d of 54º gravity crude from a 2,326 m deep interval and a "very low flow rate" of 40º gravity oil from a 2,690 m interval, PTTEP said. The first interval also tested 16 Mcfd of gas at the well that was drilled to 2,912 m TD and encountered several small petroleum-bearing formations.
