Bangkok--Nov 4--Azium Burson-Marsteller
ChevronTexaco announced today that it has drilled two successful wells ? an exploration and an appraisal well -- in Block 9A in the Gulf of Thailand. Block 9A was awarded to ChevronTexaco (operator) and its joint venture partners in July, 2003.
The two wells drilled, Tantawan 23 and Tantawan 24, encountered oil and gas pay, and an application is underway for a Production Area license. Production from the wells will be tied into the existing oil and gas producing facilities of the Tantawan field in adjacent Block B8/32, which is also operated by ChevronTexaco.
In addition, successful drilling campaigns continue in the Benchamas field, also located in Block B8/32, where several delineation and development wells have encountered over 500 feet of oil and gas pay. These wells are adjacent to ChevronTexaco's newest block, G4/43, also acquired in July.
"We are very encouraged with the success of the drilling programs in Block 9A and B8/32, and the promising reserves in the Gulf of Thailand," said Isikeli Taureka, Managing Director of Chevron Offshore (Thailand) Limited, a subsidiary of ChevronTexaco. "We hope to continue this success when we begin exploratory drilling next year in Block G4/43," Taureka added.
"We will continue to explore and develop these resources in the safest, most cost-effective manner in order to maximize and grow the value of our base business to the benefit of our shareholders, partners, and the people of Thailand," Taureka noted.
ChevronTexaco is the largest oil producer in the Gulf of Thailand, producing 55,000 barrels per day. In addition, the company produces approximately 210 mmscfd of natural gas.
For more information, please contact :
Contact: Rattikan Chaiwanit Suvimol Decharkom
or Somrasa Wongkatthaleekham or Satida Sritunyatorn
Tel: 0-2618-1000 Tel: 0-2252-9871
Email:
[email protected] Email:
[email protected]
or
[email protected] or
[email protected] End.
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