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Ophir reaches Bualuang phase IV FID

Written by  Wednesday, 17 May 2017 09:42
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Ophir Energy announced that the company has reached a final investment decision (FID) for Bualuang oil field's fourth phase of development in the Gulf of Thailand, with first oil set for 2018.

Image from Ophir.

The fourth phase of development will consist of a 12 slot bridge-linked wellhead structure with additional power generation. It will include the drilling of up to 14 wells and an expansion of the water disposal capacity on the Bravo platform, says Ophir.

The company is expecting the total investment of the project to be US$145 million from now until 2020.

First oil is set for 2H 2018. Ophir’s reserves auditors, ERC Equipoise, forecasts that the development will convert 9.2 MMbo of contingent resources to reserves.

The Vantage Drilling Topaz Driller jackup rig is on location at the Bualuang field and has started operations on the 2017 infill drilling program, says Ophir.

“This program consists of two development wells and one well targeting untested prospective resources in a near-field step-out location,” says Ophir. “Abandoned well stock is to be recycled to target the three new locations with the goal of the development wells growing production by around 1400 b/d.”

The company says that the cost of these development wells will be some $12 million. Production year to date from the field is averaging 8100 b/d.

The Bualuang oil field in the Gulf of Thailand has been onstream since 2008. Ophir says that the field was initially thought to contain 15 MMbo of 2P reserves and have a productive life of approximately five years. However, the field has undergone numerous reserve upgrades and by October 2015, it had produced its 25 millionth bbl.

Ophir owns and operates 100% of Bualuang. 

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