Ophir prepares to drill first wells offshore Thailand

Offshore staff

LONDONOphir Energy is close to securing a rig to drill offshore Thailand later this year on acreage the company gained following its takeover of Salamander Energy.

The company plans two exploration wells on the G4/50 license.

Elsewhere in the region, Ophir says a 10,800-sq km (4,170-sq mi) 3D seismic data it commissioned offshore Myanmar has been completed.

After integrating Salamander’s operations and another asset package acquired from Niko, Ophir has implemented a company-wide cost rationalization program designed to achieve $60 million annually in cost savings by removing overlapping, streamlining of operations, and lower group and contractor staffing levels.

Ophir is closing five of its 11 offices and has scaled back operations at the other six.

The company adds that it has only $100 million of contractually committed exploration and appraisal expenditure between now and 2017, and that its costs for the proposed Tanzania LNG project are manageable with only $40 million of spending allocated through 2016.

07/06/2015

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...