Chevron Offshore (Thailand) Ltd. (COTL) and BCPR Co. Ltd. (BCPR) signed a production sharing contract (PSC) for exploration and production in Block G2/65 (Block G2/65) in the Gulf of Thailand.
The Minister of Energy authorized the participation of BCPR, a Bangchak Group affiliate, by issuing Supplementary Production Sharing Contract (No. 1). Chevron has transferred 30% of its rights and obligations under the PSC to BCPR, making BCPR a co-venturer in Block G2/65 with Chevron serving as the operator.
In 2023, Chevron was awarded the PSC for the block, and the project is currently in the exploration phase.
Alex Procyk is Upstream Editor at Oil & Gas Journal. He has also served as a principal technical professional at Halliburton and as a completion engineer at ConocoPhillips. He holds a BS in chemistry (1987) from Kent State University and a PhD in chemistry (1992) from Carnegie Mellon University. He is a member of the Society of Petroleum Engineers (SPE).
