PTT Exploration and Production Plc (PTTEP), Thailand's sole petroleum explorer, has discovered natural gas at its Orca-1 exploration well in Mozambique that was drilled to its final depth in early April.
President and chief executive Tevin Vongvanich said it discovered a 58-metre natural gas pay in a Paleocene fan system fully contained within the block in the Rovuma Offshore Area 1 at a total depth of nearly five kilometres.
The operator is designing an initial two-well appraisal programme to define the areal extent of the Orca field, which will commence immediately after drilling the Linguado and Espadarte exploration wells.
PTTEP holds 8.5% of the joint venture in Rovuma Offshore Area 1, with partners including the operator Anadarko with a 36.5% share, Mitsui E&P Mozambique Area 1 Ltd with 20%, Empresa Nacional de Hidrocarbonoestos with 15%, and both BPRL Ventures Mozambique B.V. and Videocon Mozambique Rovuma 1 Ltd with 10% each.
PTTEP has found crude oil and gas flow at a satisfactory rate at its petroleum field in the Hassi Bir Rekaiz Permits in Algeria during the first exploration phase. It plans to start the second phase soon.
During the first phase, the last three exploration wells were drilled and yielded petroleum discoveries with crude oil flow at around 2.7 billion barrels per day and associated gas flows of 2.13 million standard cubic feet per day.
It discovered resources in seven out of nine wells during the first phase.
PTTEP is the block's operator with ownership of 24.5%, with Algerian national oil and gas firm Sonatrach and Beijing-based CNOOC holding 51% and 24.5%, respectively.
Shares of PTTEP closed yesterday on the SET at 144 baht, up one baht, in trade worth 640.48 million baht.