www.oilvoice.com wrote:PTTEP Announces Start of Production at Phu Horm in the Northeastern Region of Thailand.
Phu Horm, a development and production natural gas project in the Northeastern Region of Thailand, has officially started production at the rate of 100 million standard cubic feet of natural gas per day (MMSCFD).
On February 15, 2007, Dr. Piyasvasti Amranand, the Minister of Energy presided over the inauguration of the Phu Horm gas field ceremony. Mr. Maroot Mrigadat (มารุต มฤคทัต), the President of PTT Exploration and Production Public Company Limited or PTTEP, also attended the ceremony.
Phu Horm Project actually started production on November 30, 2006 at the rate of 60 MMSCFD. Today, the production rate has risen to 100 MMSCFD. The gas is sold to PTT Public Company Limited who, in turn, sells it to Nam Phong Electricity Generating Plant under a 15 years agreement to produce electricity for the Northeastern part of Thailand.
PTTEP President Mr. Maro ot Mrigadat said that he is pleased with the successful development and production of natural gas at Phu Horm. He sees Phu Horm as an important energy source for the production of electricity in the northeastern part of Thailand. He added that PTTEP has a plan to develop other exploration and production projects under concessions it received from the Department of Mineral Fuels so that the northeastern region would have supplementary long term energy source.
Phu Horm Project is situated in Udon Thani and Khon Kaen Provinces about 45 kilometres north of the Nam Phong Electricity Generating Plant. It covers an area of about 231.6 square kilometers. Hess (Thailand) is the operator with 35% interest. Partners include Apico LLC with 35% interest, PTTEP with 20% interest, and ExxonMobil Exploration and Production Khorat Inc. with 10% interest.
