KrisEnergy awards oil development block EPCIC contract

Source:KrisEnergy Ltd.

KrisEnergy awards oil development block EPCIC contract KrisEnergy Ltd. (“KrisEnergy” or “the “Company”), an independent upstream oil and gas company, is pleased to announce the award of the Engineering, Procurement, Construction, Installation and Commissioning (“EPCIC”) contract for the production and processing facilities for the Nong Yao oil development in block G11/48 in the Gulf of Thailand.

The EPCIC contract was awarded to Nippon Steel and Sumikin Engineering Co. Ltd. (“NSSE”) by the operator of G11/48, Mubadala Petroleum. The development concept for the initial phase of the Nong Yao field comprises 23 wells, a wellhead processing platform and a minimum facility wellhead platform with the export of crude oil via a floating storage and offloading vessel. The production capacity will be up to 15,000 barrels of oil per day and 30,000 barrels of fluids per day. First oil is anticipated in the first half of 2015.

Chris Gibson-Robinson, KrisEnergy’s Director of Exploration & Production, said: “We declared final investment decision in August last year and preliminary fabrication work commenced in November. We are pleased to be making headway on the Nong Yao development, one of six development projects in our current portfolio.”

KrisEnergy holds a 25% working interest in G11/48 and Mubadala Petroleum has the remaining 75%. G11/48 covers 6,791 sq km over the southern margin of the Pattani Basin and the northwest margin of the Malay Basin in water depths of up to 75 metres.

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