Results 1 to 6 of 6
  1. #1
    Thailand Expat misskit's Avatar
    Join Date
    Dec 2009
    Last Online
    @
    Location
    Chiang Mai
    Posts
    48,105

    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
    Join Date
    Jul 2007
    Last Online
    Today @ 10:05 AM
    Location
    The Kingdom of Lanna
    Posts
    12,993
    Will be auctioned to whom?

  3. #3
    Thailand Expat
    Headworx's Avatar
    Join Date
    Sep 2007
    Last Online
    @
    Location
    Jomtien
    Posts
    7,981
    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
    RIP pseudolus's Avatar
    Join Date
    Jan 2012
    Last Online
    @
    Posts
    18,083
    Will probably go to a smaller firm than that HW.

  5. #5
    Thailand Expat
    Headworx's Avatar
    Join Date
    Sep 2007
    Last Online
    @
    Location
    Jomtien
    Posts
    7,981
    ^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
    Thailand Expat Airportwo's Avatar
    Join Date
    Mar 2006
    Last Online
    22-03-2024 @ 04:52 PM
    Location
    Flat Earth
    Posts
    4,002
    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.

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •