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  1. #1
    Thailand Expat misskit's Avatar
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    Petroleum concessions for Erawan and Bongkot fields to be auctioned

    GULF OF THAILAND, 23rd December 2017 (NNT) - The Ministry of Energy has announced the conditions for the auction of the petroleum concessions for Erawan and Bongkot gas fields.

    Mr. Siri Jirapongpan, Minister of Energy, has stated that the minimum level of natural gas production from these fields both before and after the expiration of the concessions, which is scheduled for 2022 and 2023, must be maintained at 1.5 billion cubic feet per day so as to be sufficient for the needs of the gas separation plants.

    Moreover, the price of natural gas must be based on the price base used in the past, which is congruous with the need for consumption of the remaining natural gas for the greatest benefit of the nation.

    Furthermore, it has been confirmed that a new power plant needs to be constructed in the South soon in order to accommodate the requirements of electricity consumption, which increases by 3-4% per year.

    As to what kind of power plant it is, this will be determined by the outcome of a study by the Electricity Generating Authority of Thailand after consultations with every party. If a new power plant is not constructed, the South will start to face the problem of electricity shortages around March 2020.

    http://nwnt.prd.go.th/CenterWeb/News...C6012230010009

  2. #2
    Thailand Expat
    VocalNeal's Avatar
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    Will be auctioned to whom?

  3. #3
    Thailand Expat
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    Quote Originally Posted by VocalNeal View Post
    Will be auctioned to whom?
    Chevron, Shell, BP, ENI, Petronas, etc...

    It's a good deal, they auction the blocks off to the highest bidder (who's pre-qualified and meets all the conditions in the bid package obviously) then the oil company stumps-up for the vast majority of the exploration/exploitation costs while the National oil company collects around half of any revenue while using the field as a training ground for their people.

  4. #4
    Veni vidi fugi
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    Will probably go to a smaller firm than that HW.

  5. #5
    Thailand Expat
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    ^Yeah possibly, depending on many things of course. I have no idea of the sizes - productivity - potential of any Thailand basins 'cause I never worked here and never would.

  6. #6
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    Bongkot was originally drilled by Total, they had the concession for the first five years I believe, I was involved with the first well drilled, was a good one back then, sure its not doing so much anymore? Would imagine it would appeal to a smaller operator doubt any of the bigger companies would have much interest.

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