Ophir to overhaul production system at Bualuang oil field offshore Thailand

Offshore staff

LONDONOphir Energy says it plans to focus on maximizing the remaining reserves in the Bualuang oil field in the Gulf of Thailand.

Ahead of a next phase of development, the company completed an ocean bottom node 3D seismic survey last year, giving it modern 3D seismic data coverage over the field.

It is integrating the data into its models in its designs for its optimal asset development plan.

This year, the company should also finish its de-bottlenecking project on Bualuang, designed to deliver higher rates of water treatment and disposal and thereby accelerating oil production and recovery. The first phase of this project was completed during the current quarter.

Last year’s exploratory drilling campaign in the offshore G4/50 license did not yield any discoveries, although the Parichat South West recovered sub-commercial oil.

Ophir’s post-well analysis is determining whether a breached seal or a limited charge was the reason. If it appears that the seal was responsible, the company may drill another wildcat on the basin, probably on the Sala North prospect during the second half of this year.

To the north, Ophir completed acquisition last year of more than 10,000 sq km (3,861 sq mi) of 3D seismic over its acreage in the deepwater Rakhine basin off Myanmar, and expects to conclude processing this spring.

Interpretation is under way of the fasttrack data and the company hopes to mature a prospect inventory later this year ahead of a potential well in 2017.

In addition, Ophir is analyzing the frontier play fairways of the Kutai basin and West Papua offshore Indonesia. Recently the company added block 2A in the Sarawak basin offshore Malaysia to its Southeast Asia portfolio: it sees potential for pushing an extension of an existing play into deeper water.

Having completed the acquisition of five licenses from Niko Resources, Ophir believes its West Papua and Aru concessions could hold liquids-prone prospects that potentially contain several hundred million barrels.

It plans to acquire new 3D seismic this year over key leads and prospects, and following processing and interpretation will decide whether to drill, most likely during 2017.

03/14/2016

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