Singapore-based explorer KrisEnergy will proceed with the primary section of its Apsara oil discipline, the primary hydrocarbon undertaking offshore Cambodia, the corporate introduced right this moment (19 October).
Phase 1A of the Apsara improvement, in Cambodia Block A within the Gulf of Thailand, is deliberate to be a single unmanned minimal facility 24-slot wellhead platform producing to a moored manufacturing barge with capability for 30,00zero b/d of fluid with gasoline, oil and water separation services on the vessel. Oil will probably be despatched by way of a 1.5km pipeline for storage to a completely moored floating, storage and offloading vessel.
“[The final investment decision] is one other step in progressing the Apsara improvement throughout the goal timeframe following the formal signing of the petroleum settlement in late August,” mentioned Kelvin Tang, KrisEnergy’s CEO and president of Cambodian operations. “Our technical and operations groups are getting ready the mandatory tenders for supplies, gear and providers. In parallel, consultations proceed with events to affix this groundbreaking undertaking to scale back our operational danger and capital expenditure publicity.”
The Cambodia Block A contract space covers 3083sq km over the Khmer Basin within the Gulf of Thailand the place water depths vary 50-80m. KrisEnergy says that the person oil accumulations in Cambodia Block A are small in measurement and unfold over a big geographic space, requiring important funds and time to totally develop. Additionally, reservoir manufacturing efficiency within the Khmer Basin has but to be confirmed.
“For these causes, amongst others, there may be some uncertainty concerning long-term manufacturing charges, reserves and industrial viability and due to this fact a phased improvement method has been prudently adopted,” the corporate mentioned. Once the preliminary Phase 1A platform is on stream, there will probably be a interval to observe reservoir efficiency earlier than commencing Phase 1B. The firm says 1B would see as much as three extra platforms producing to the Phase 1A services. A Phase 1C will doubtlessly add as much as six extra platforms for the total 10-platform Apsara improvement.
It's been a protracted street to FID. In 2014, KrisEnergy bought Chevron's Cambodia enterprise for US$65 million. The buy included the Cambodia Block A.
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KrisEnergy operates Cambodia Block A and holds 95% working curiosity. The General Department of State Property and Non Tax Revenue of the Ministry of Economy and Finance holds the remaining 5% on behalf of Cambodia's authorities.
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