Pearl Energy awarded Gulf of Thailand block

Pearl Energy Ltd., a unit of Aabar Petroleum Investments Co. PJSC of Abu Dhabi, has been awarded the oil exploration contract for Block G2/48 in the northern Gulf of Thailand.

Dec. 18, 2006

By OGJ editors
HOUSTON, Dec. 18 -- Pearl Energy Ltd., a unit of Aabar Petroleum Investments Co. PJSC of Abu Dhabi, has been awarded the oil exploration contract for Block G2/48 in the northern Gulf of Thailand.

Pearl will hold 100% interest in the block and will serve as operator. The block covers 19,040 sq. km and is immediately north of Pearl-operated Block B5/27, which contains Jasmine oil field and accounts for about half of the group's total daily net working interest in oil production (OGJ Online, Dec. 11, 2006).

Block G2/48 is underexplored with limited seismic data, Pearl said, but offers several potentially good leads given its position at the northernmost area of the Pattani basin and with the East Kra basin to the west.