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PTTEP (APAC)

/PTTEP (APAC)
PTTEP (APAC) 2017-08-10T12:31:32+00:00

Project Description

409, 2017

Bids Turned In For PTTEP Myanmar Drilling Program

Bids were due August 31 to PTTEP for its tender for a DW floating rig to drill eight slim-hole wells in Blocks M9/M11 in the Zawtika field and one well in Block MD-7 off Myanmar. Water depths in the two areas range from 660' to as deep as 6,560'. Start date is February 2018 and reports say 10 rig owners were invited to submit bids. A moored DW or combination DP/moored semi is required for the drilling, which is expected to last 6-8 months.

1908, 2017

PTTEP Australia To Spud In September

Noble jackup Noble Tom Prosser is en route to Darwin in Australia aboard heavy lift vessel Zhen Hua 33 which departed from Sharjah last week. The rig will arrive in Darwin late August ahead of its 60-day charter with PTTEP in the Montara field which should commence in September. The JU3000N design rig previously worked in Australia for Quadrant Energy in 2015 and was then mobilized to the Middle East in October 2016 at the conclusion of the Quadrant charter. The rig is one of only five jackups that currently have an Australian Safety Case.

1908, 2017

PTTEP Combines Floater Tender

Probably recognizing the dearth of mid water floaters in the region PTTEP in Myanmar have combined their two drilling programs into one and issued a tender for a moored floating rig capable of working in just 200m as well as in 2000m water depths. The shallow water program is for 8 appraisal wells in slim hole mode in the Zawtika field in Blocks M9/M11, likely to last between 6-8 months and the deep-water drilling will be in Block MW-07 for between 1 and 3 wells. Commencement is set for February 2018.

1508, 2017

PTTEP Served $2.1bn Claim

PTTEP has been formerly served a damages claim amounting to $2.1bn by the Indonesian Ministry of Environment and Forestry relating to the Montara blowout and oil spill back in 2009. PTTEP is to contest the claim stating that independent modelling showed all but 2% of the leaked oil stayed in Australian waters and did not reach the shores of either Australia or Indonesia. In addition to the monetary claim Indonesia is seeking a freezing order on assets owned by PTTEP. Meanwhile PTTEP has decided to halt all future investment in Indonesia until the case is settled and has pulled out [...]

3107, 2017

PTT Acquires $500m Interest in LNG Project

PTTEP and PTT Group have announced that they have acquired a 10% stake, worth $500m, in Petronas’ liquefaction plant MLNG Train 9 in Sarawak. PTTEP stated they were looking to further expand in Southeast Asia, especially in Malaysia and Myanmar and were awaiting results of a few bid proposals for exploration projects in the region.

2907, 2017

PTTEP Myanmar Yet To Confirm EDrill 2 Option

PTTEP in Myanmar has yet to confirm with Energy Drilling that they will exercise the options on tender barge EDrill 2. The rig will complete its primary 18 month term shortly and PTTEP has a 30 month option on the rig which if exercised would keep the rig occupied until November 2019. The rig is drill-ing ahead with development wells in the Zawtika field.

2707, 2017

Petronas Ships First LNG Cargo To Thailand

Petronas has shipped its first LNG gas cargo to Thailand from its Bintulu LNG plant after signing a long term deal with PTT. Petronas is committed to deliver up to 1.2m tonnes of LNG a year for 15 years. Petronas already supplies gas to Thailand from its Yetagun field in Myanmar and from the Carigali-Hess gas fields in the JPDA. PTT is in talks with Petronas to acquire a 10% interest in one of Petronas’ LNG projects in Malaysia, likely Block SK316 offshore Sarawak.

2507, 2017

ExxonMobil Withdraws From East Natuna Block

The long drawn out story of ExxonMobil’s involvement in the East Natuna Block (sometimes called Natuna D Alpha) which contains one of the world’s largest untapped gas reserves, estimated at 46Tcf may be coming to an end. The US giant has stated that after conducting a technology and market review, it is withdrawing from the development of the field as it has concluded that it is uneconomical under the current terms. The field, discovered in the 1970’s, is in 150m water depths but has a 70% carbon dioxide content and development costs have been projected as being as high as [...]

2307, 2017

PTTEP Myanmar Project Updates

PTTEP is to issue a tender late this month for its drilling programs in Myanmar. The operator has de-cided to combine two separate floater programs into one where a mid water floater was required for 8 wells in the Zawtika field in Blocks M9/M11 and a ultra deepwater floater was required for one well in Block MD-07 in 2000m water depths. A moored/DP unit is required. The Zawtika program, in 200m water depths, is expected to last between 6-8 months and the MD—07 well is likely to be one of the options. PTTEP is still mulling over whether to tender [...]

1307, 2017

PTTEP Australia Project Updates

PTTEP have applied to renew its lease on permit AC-RL-6 in the Vulcan sub-basin, which contains the Audacious field. The permit was first awarded in 2006 and then renews in 2013. PTTEP has a commitment to carry out engineering studies for the development of the Audacious field as well as source an FPSO and drill another well. On PTTEP’s Montara field, where drilling operations are scheduled to start in September using Noble jackup Noble Tom Prosser, NOPSEMA have asked the Thai NOC to resubmit their environ-mental plan and have stated they will make a decision on the revised plan by [...]

1107, 2017

PTTEP Myanmar Project Updates

PTTEP are still mulling over whether they should charter a second tender rig to assist TAD EDrill-3 in the development of the Zawtika gas field in Blocks M9 and M11 in the Andaman Sea. They now ex-pect to make a decision by the end of the year. If they decide to go ahead they are likely to require the rig around Q3 2018 for a duration of around 6 months. PTTEP had tendered for this requirement in May 2016 and re-tendered in December that year but then decided not to proceed at that point. Meanwhile in Block M3 PTTEP is [...]

2606, 2017

PTTEP Continuing to Plan for Myanmar Operations

PTTEP is planning to merge two floater requirements it has for separate drilling campaigns it has planned offshore Myanmar. A requirement for an ultra deepwater rig to drill an unspecified num-ber of wells in block MD-7, which has water depths of up to 2,000m, is likely to be merged with a requirement originally for a mid water floater to drill 8 appraisal wells, in slim hole mode, in the Zawtika field in Blocks M9/M11. The latter work scope would take between 6-8 months to drill with a planned commencement in February 2018. If the plans are approved PTTEP will require [...]

1406, 2017

Petronas’ SK316 Sale Enters Second Round

Petronas’ proposed sale of up to a 49% stake in the SK316 gas project offshore Sarawak has now moved into the second round with at least six bidders, including Shell, ExxonMobil, Total, PTTEP and Japanese companies, said to be interested in the stake which has an estimated value of $1bn. Petronas is seeking a partner that can bring the capabilities and technology to explore, develop and efficiently operate the various fields and opportunities in the Block. The sale of a stake in the block has been opposed by the opposition party in Sarawak, supporters of the Prime Minister suggesting the [...]

1106, 2017

PTTEP and Petronas Continue JDA Discussions

Negotiations between PTTEP and Petronas over the joint development area (MTJA) in the disputed waters between the two countries in order to renew their development pact, which was formulated in 1990, are set to be completed by the end of the year and are expected to lead to new development projects aimed at increasing output. The two parties, as partners in the Carigali-PTTEP Operating Company (CPOC) manage Blocks B-17, C-19 and B-17-01 which contain four producing fields. Other producing fields in the overlap area are run by a joint venture between Hess’ Thailand subsidiary and Petronas Carigali (CHOC) with 50% [...]

806, 2017

Sapura Energy Awarded PTTEP Myanmar Contract

Sapura Energy subsidiary Sapura Offshore has won an EPCI contract from PT Gunanusa Utama Fab-ricators for their client PTTEP to provide and install new wellhead platforms, pipelines and modify existing platforms in the Zawtika field offshore Myanmar. Completion date for the project is set for March 2018.

706, 2017

PTTEP Australia Scraps FLNG Concept

PTTEP has decided against a floating liquefied natural gas concept to develop its giant remote Cash Maple gas resource and instead aims to teaming up with potential partners with nearby as-sets such as Petrel-Tern and Poseidon in order to share production facilities and gas pipelines ashore. KBR is currently carrying out a feasibility study. Cash-Maple is some 680km from Darwin and contains between 3-4Tcf of gas.

706, 2017

PTTEP Planning for Montara Operations

PTTEP is readying its Montara field offshore Australia for its short drilling campaign to be under-taken by Noble jackup Noble Tom Prosser set to begin in September, after the rig arrives from the Middle East. Sapura Energy are shortly to complete repair and maintenance work in the Montara field which had included saturation diving and remotely operated vehicle intervention work.

406, 2017

PTTEP and Chevron Thailand Hold Asset Talks

PTTEP is gearing up to bid to retain its ownership of the Bongkot field in the Gulf of Thailand and also has its eyes on acquiring the Erewan field currently operated by Chevron. PTTEP has been holding talks with Chevron over a joint bid for Erewan or increasing PTTEP’s stake in the field. The concessions for both Bongkot and Erewan expire in 2022 and 2023 and the Thai government in-tends to auction off the two concessions which account for 2/3rds of the countries gas production. The Department of Mineral Fuels have yet to finalize the contract model to be used [...]

106, 2017

PTTEP’s Myanmar Operations Continue to Progress

Following on from their indication back in September last year that they will require a moored mid water floater for a drilling campaign in the Zawtika field in Blocks M9/M11 offshore Myanmar PTTEP have finalized its program which will now consist of 8 wells to be drilled in slim hole mode and is set to begin in early 2018 before the onset of the monsoon. The 4 month firm program could also have options which would stretch the duration to 8 months and is in water depths between 145-165m. The operator is currently preparing tender documents to be issued soon. [...]

2605, 2017

Noble Tom Prosser Awaiting Mobilization To Australia For PTTEP

Noble jackup Noble Tom Prosser remains stacked at Lamprell’s yard in Port Khalid as is not due to mobilize to Australia until July/August. The rig has a 60-day charter beginning in September with PTTEP in the Montara field. Noble are optimistic they will be able to find other follow on work for the rig although they do not expect any long term charters. The rig is likely to have been offered to ConocoPhillips for their Bayu-Undan tender also in Australia as well as Quadrant Energy’ tender for a jackup. Other potential work in Australia includes Gulf Energy in Permit Q23/P [...]

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