Thailand’s PTT to boost oil output in Oman

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PTT Exploration and Production, Thailand’s state-owned oil exploration firm, has said it is ready to expand crude oil production at its operations in Oman three-fold.

Tevin Vongvanich, president of PTT Exploration and Production, said that output from its Oman 44 project will rise to 5,000 barrels per day next month.

The additional output, which includes about 50 million cubic feet per day of natural gas, would be the result of the drilling of seven wells during 2011 and 2012.

Oman’s block 44, which covers about 1,162 square kilometers, is located 300 kilometers west of Oman’s capital Muscat. PTTEP Oman is the operator with a 100 per cent interest.

Oman’s oil exports are targeted towards high growth areas, mainly in the Asian region. China is the single largest importer of Oman’s oil output, representing a share of 35 per cent of total oil exports during the first quarter of 2010. Thailand (17 per cent) and Japan (16 per cent) are the next largest importers of oil from Oman.

Oman is the leading non-OPEC oil exporter in the Gulf region. The country has total proven reserves of 5.5 billion barrels of oil as of January 2012. Together with Occidental Petroleum, BP and Petronas, Thailand’s PTTEP is a major player in Oman’s natural gas production.

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Reading Time: 1 minute

PTT Exploration and Production, Thailand’s state-owned oil exploration firm, has said it is ready to expand crude oil production at its operations in Oman three-fold.

Reading Time: 1 minute

PTT Exploration and Production, Thailand’s state-owned oil exploration firm, has said it is ready to expand crude oil production at its operations in Oman three-fold.

Tevin Vongvanich, president of PTT Exploration and Production, said that output from its Oman 44 project will rise to 5,000 barrels per day next month.

The additional output, which includes about 50 million cubic feet per day of natural gas, would be the result of the drilling of seven wells during 2011 and 2012.

Oman’s block 44, which covers about 1,162 square kilometers, is located 300 kilometers west of Oman’s capital Muscat. PTTEP Oman is the operator with a 100 per cent interest.

Oman’s oil exports are targeted towards high growth areas, mainly in the Asian region. China is the single largest importer of Oman’s oil output, representing a share of 35 per cent of total oil exports during the first quarter of 2010. Thailand (17 per cent) and Japan (16 per cent) are the next largest importers of oil from Oman.

Oman is the leading non-OPEC oil exporter in the Gulf region. The country has total proven reserves of 5.5 billion barrels of oil as of January 2012. Together with Occidental Petroleum, BP and Petronas, Thailand’s PTTEP is a major player in Oman’s natural gas production.

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