KrisEnergy Ltd., an independent upstream oil and gas company, announces that it has received government approval of the production area application (PAA) for an area containing the Rossukon oil discovery in the Gulf of Thailand. The PAA was approved by the Department of Mineral Fuels (DMF), the government agency responsible for Thailand's upstream petroleum industry, and covers an area of 87.74 sq. km.
The Rossukon series of discoveries are located in the G6/48 licence over the Karawake Basin to the north of the G10/48 licence, where the KrisEnergy-operated Wassana oil field commenced production in August. The Company drilled two exploration wells and two intentional sidetrack wells in the Rossukon area in the first half of 2015.
Each well encountered oil and gas, adding to volumes from the original Rossukon discovery made in 2009. The Rossukon PAA was submitted to the DMF in June 2015.
The Company’s current assets in the Gulf of Thailand include the non-operated producing B8/32, B9A and G11/48 (Nong Yao field) contract areas and the KrisEnergy-operated G10/48, which contains the Wassana field, and G6/48 licences. KrisEnergy is also the operator of Block A offshore Cambodia where it is developing the Apsara oil field.
KrisEnergy took over operatorship of G6/48 in May 2014. The Company holds a 30% working interest in the concession and is partnered by Northern Gulf Petroleum Pte Ltd with 40% and Mubadala Petroleum with 30%.