Australian Oil Company Begins Drilling in Phichit

Australian Oil Company Begins Drilling in Phichit
24 January 2011

An Australian company has begun an oil drilling operation in Phichit province where they expect to find deposits containing approximately 16.6 million barrels of crude oil.

Deputy Prime Minister Sanan Kachornprasart, Australian Ambassador to Thailand James Wise and Governor of Phichit province Suwit Watcharoteyangkul presided over the ceremony to commence drilling at the CVN5 oil well in Bueng Narang, Phichit province.

The Australian owned Carnavon Thailand has been granted the petroleum exploration and drilling concessions in Phichit province.

Three sites have already been identified as possibly having oil deposits.

CVN5 is the first site being drilled.

Experts expect to find oil and natural gas reserves between 1,800 and 2,000 meters underground.

This may prove to be an additional energy source for the country.

Even though the deposits may be insignificant compared to the amount of oil being consumed in the country, it would reduce some need to import expensive petroleum from abroad.

Surveying has revealed that the deposit contains at least 16.6 million barrels of crude oil.

thailandoutlook.tv

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Originally Posted by Mid

Experts expect to find oil and natural gas reserves between 1,800 and 2,000 meters underground.

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Jumping the gun a bit :)

Shukathai also has had some oil finds and have 12 more wells to drill in the area in the near future.
There is a rig drilling a couple of wells in Chum pai at the moment 90k out of Khon kaen.
The Lao goverment also plan on drilling some more wildcat wells this year.

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Originally Posted by Mid

Australian Oil Company Begins Drilling in Phichit

Surveying has revealed that the deposit contains at least 16.6 million barrels of crude oil.

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Should say "might contain".

Tatex are drilling near Kalasin. PTTEP is drilling between Korat and Chaiyapum, Pan Orient is drilling north of Bangkok and another company has stated drilling near Chumpae.

Lots going on onshore Thailand.

Thailand's natural gas reserves to run out in 18 years
Watcharapong Thongrung
01-06-2011

Thailand's natural-gas reserves are estimated to be enough for only 18 more years if no new reserves are found, said Kurujit Nakornthap, deputy permanent secretary of the Energy Ministry.

He made the remark yesterday (May 31) at a seminar on Thailand's energy outlook. He said the current natural-gas reserves, both proven and probable, stand at 23 trillion cubic feet. If production is maintained at the rate of 3,747 million cubic feet per day (MMcfd) and no new reserves are found, the current reserves will run out in 18 years.

He added that the ministry had given priority to seeking new resources to ensure national energy stability.

He added that of the country's proven petroleum reserves as of 2009, natural gas stood at 11.026 trillion cubic feet, condensate at 255 million barrels, and crude oil at 180 million barrels. Of total probable reserves, the natural-gas amount stood at 6.170 trillion cubic feet, condensate at 86 million barrels, and crude oil at 170 million barrels.

This year natural-gas production in Thailand in many fields is expected to reach a combined 3,717MMcfd, up from 3,511MMcfd, while the demand from many industrial sectors is estimated at a combined 4,006MMcfd, down from 4,039MMcfd last year.

The high demand for natural gas means Thailand is expected to import 702MMcfd from Burma this year.

Kurujit said one threat to the country's energy security was its over-dependence on natural gas for generating electricity. It is estimated that natural gas this year will account for 71 per cent of all energy sources used for electricity generation. Coal-fired power plants and proposed nuclear plants face opposition from communities.

Department of mineral fuels director-general Songpop Polachan said it would rapidly seek additional domestic petroleum sources through the planned granting of new concessions, the promotion of production in small petroleum fields, and a feasibility study on the production of natural gas from high-carbon-dioxide fields.

asianewsnet.net

^Hmm, my ex owns land near Phichit, a fair amount if you add in her mom's and siblings' holdings.

There is also still gold in the ground around Phichit.

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Originally Posted by robuzo

^Hmm, my ex owns land near Phichit, a fair amount if you add in her mom's and siblings' holdings. There is also still gold in the ground around Phichit.

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No they dont get to get rich of it and are paid local price for there land.

^Not sure if that is necessarily true but wouldn't be surprised. Well, there's always that old, abandoned gold mine. . .

I know there are blocks up for bidding in Khorat that look promising as well..

cheers

I believe under Thai law the mineral rights belong to government. The landowner can charge for using the land or sell it, but the developer has to pay the government royalties for anything extracted not the landowner.

Don’t think there will be any Beverly Hillbillies in Thailand.
TH

Drilled 2 wells , both dusters. That 16 + million barrels that can come off projected reserves.