Thailand: Production Period Extended on Bongkot...
TOTAL S.A.
Total announces that the Thai authorities have approved the extension for ten
years of the production period for Bongkot, the largest gas field in Thailand.
Bongkot consists of Blocks B15, B16, and B17. With the extension, the Joint
Venture partners are entitled to continue to produce gas and condensate from
Block B15 until 2022 and from Blocks B16 and B17 until 2023.
Existing developments on Bongkot were concentrated in the northern part of the
licence (Greater Bongkot North). The Bongkot Field currently produces
approximately 600 million cubic feet per day of natural gas and 18,000 barrels
per day of condensate (about 20% of national gas consumption in Thailand). Three
new gas discoveries should enter production in 2009 in the Greater Bongkot North
(GBN) zone, allowing to extend the production plateau of GBN.
After the success of four delineation wells drilled in 2007 in the Greater
Bongkot South (GBS) zone, the Government decision to extend the production
period should enable to launch a new development on this area in 2008 after an
agreement is reached on the commercial terms on gas sales.
This development will consist of a production platform, a living quarters
platform and a number of wellhead platforms. It should increase the production
volume by 300 million cubic feet per day, which will push Bongkot production
capacity to approximately 900 million cubic feet per day at the beginning of the
next decade.
Bongkot has been on production since 1993, it is operated by PTT Exploration and
Production Plc. (PTTEP), with a 44.45% interest. The remaining stakes are owned
by Total (33.33%) and BG Asia Pacific Pte. Limited (22.22%).
Total's upstream in Thailand
The Group's primary asset in Thailand is the Bongkot gas and condensates field
(33.33%) where its share of production reached 41,000 barrels of oil equivalent
per day in 2006.
Total is also active in power and cogeneration in Thailand and owns 28 % of
Easter Power and Electric Company Ltd (EPEC) which has operated since 2003 the
combined cycle gas power plant of Bang Bo, with a capacity of 350 MW
Total Exploration & Production in the Asia-Pacific Region
At 253,000 barrels of oil equivalent per day, the Asia-Pacific region accounted
for 11% of the Group's total production in 2006. Total is primarily active in
Indonesia, where it has operated the Mahakam block with partner Inpex since 1970
and is one of the country's leading producers of liquefied natural gas.
The Group recently strengthened and diversified its mining domain by taking new
permits in Australia, Indonesia, Bangladesh and Vietnam. It also acquired a 24%
stake in Australia's Ichthys LNG project, in partnership with Inpex, and signed
a contract with China National Petroleum Corporation to appraise, develop and
produce natural gas resources in the South Sulige block in China.
Total is one of the world's major oil and gas groups, with activities in more
than 130 countries. Its 95,000 employees put their expertise to work in every
part of the industry - exploration and production of oil and natural gas,
refining and marketing, gas trading and electricity. Total is working to keep
the world supplied with energy, both today and tomorrow. The Group is also a
first rank player in chemicals. www.total.com
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