Integrated oil and gas company Total has announced that the Thai authorities have approved an extension of the production period for the Bongkot gas field in Thailand for 10 years.
Bongkot consists of Blocks B15, B16, and B17. With the extension, the joint venture partners are entitled to continue to produce gas and condensate from Block B15 until 2022 and from Blocks B16 and B17 until 2023.
Existing developments on Bongkot were concentrated in the northern part of the license. The Bongkot field currently produces approximately 600 million cubic feet per day of natural gas and 18,000 barrels per day of condensate. Three new gas discoveries should enter production in 2009 in the Greater Bongkot North (GBN) zone, allowing to extend the production plateau of GBN.
After the success of four delineation wells drilled in 2007 in the (GBS) zone, the government decision to extend the production period should enable to launch a new development on this area in 2008 after an agreement is reached on the commercial terms on gas sales.
This development should increase the production volume by 300 million cubic feet per day, which will push Bongkot production capacity to approximately 900 million cubic feet per day at the beginning of the next decade.
Bongkot has been on production since 1993, it is operated by PTT Exploration and Production (PTTEP), with a 44.45% interest. The remaining stakes are owned by Total (33.33%) and BG Asia Pacific (22.22%).