KrisEnergy announces new oil production in the Gulf of Thailand

Source:KrisEnergy, Ltd.

KrisEnergy announces new oil production in the Gulf of Thailand

KrisEnergy Ltd. (“KrisEnergy” or “the “Company”), an independent upstream oil and gas company, announces that oil production from the Nong Yao field in the G11/48 licence in the Gulf of Thailand commenced from three initial wells on 17 June 2015.

Keith Cameron, Chief Executive Officer, commented: “Nong Yao production is a major milestone in

KrisEnergy’s evolution. The G11/48 and G10/48 licences were our first acquisitions when the Company was established, and Nong Yao is now the first development project in our portfolio to be brought on stream. We are currently working on a further four oil developments in the Gulf of Thailand including the KrisEnergy-operated Wassana oil field in the adjacent G10/48 concession, which we expect to go into production shortly.”

The Nong Yao development will comprise up to 23 wells, a wellhead processing platform and a minimum facility wellhead platform with the export of crude via a floating storage and offloading vessel. The facilities have a production capacity of up to 15,000 bopd day and a processing capacity of 30,000 barrels of fluids per day.

G11/48 covers 3,374 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. The Gulf of Thailand is a core area of growth for KrisEnergy. The Company has non-operated working interests in the B8/32, B9A and G11/48 producing blocks and is the operator for the G10/48 and G6/48 licences, where it drilled a series of successful exploration wells in March and April 2015. It also operates Block A in Cambodian waters, where it is seeking to develop the Apsara oil field.

KrisEnergy holds a 22.5% working interest in G11/48. Mubadala Petroleum is the operator of the licence with a 67.5% working interest and Palang Sophon Limited holds 10%.

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