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Block D forecast: Oil’s well
Oil could flow from offshore Block D in the Gulf of Thailand as early as 2012, officials from licensee CPHL (Cambodia) Company have said.
While extraction remains dependent on the drilling of three to five wells over the next two or three years, the area has “very good potential”, according to the company’s chairman, William Chan.
“If we can get good results, by the end of 2012 we will try [to start production],” he said at a Cambodian National Petroleum Association event held at Phnom Penhs’s NagaWorld complex.
“We have confirmed there is much oil and gas [through surveys so far].”
CPHL secured the rights to the block – which lies 250 kilometres off the coast of Sihanoukville – in 2006, according to Chan.
In 2007, CPHL’s 48 percent owner Singapore-listed Mirach Energy declared it had completed a three- dimensional seismic survey on 360 square kilometres of Block D.
It was estimated to contain total reserves of 226.88 million barrels of oil.
phnom Penh Post
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