Bangkok, PTTEP is ready to explore and produce petroleum. If Thailand-Cambodia negotiates successfully, move forward in overlapping areas. As for the CCS project, wait for clarity from the government to set supporting criteria. Tomorrow (7 Feb.) General Hun Manet, Prime Minister of Cambodia. will travel to Thailand Met with Mr. Settha Thavisin, Prime Minister. One of the issues discussed was Overlapping maritime claims areas between Thailand and Cambodia (overlapping claims areas -OCA). This matter has been negotiated by 7 governments, a total of more than 22 years, and has not yet ended since the memorandum of understanding regarding the areas claimed by Thailand and Cambodia. in the overlapping continental shelf signed on June 18, 2001, with an area of ??approximately 26,000 square kilometers There are two areas that need to be negotiated: 1. The area above the latitude line 11 degrees north and above. A maritime boundary of 10,000 square kilometers must be concluded. clearly according to international la w 2. Area below the 11th degree north latitude line, area 16,000 square kilometers. The goal is to make a joint development agreement for petroleum (Joint Development Area: JDA) in a manner similar to Thailand's JDA with Malaysia. Mr. Montree Lawanchaikul Chief Executive Officer of PTT Exploration and Production Public Company Limited or PTTEP said that the new round of OCA negotiations is a good thing. To develop and share benefits from petroleum resources together. It is the duty of the state to find a way to come to an agreement. without dividing border lines But we hope to develop together. If an agreement is reached, it is up to the government to decide how to proceed. This will be beneficial to both countries, both in terms of using petroleum to produce electricity and in downstream industries. 'PTTEP is ready to conduct exploration and production. Because there are already production sources near the said area, namely the Erawan field and the Bongkot field, but these areas overlap. No survey yet The past is a guess. that there will be potential Because it is a continuous area with the Erawan and Bongkot fields, if an agreement is reached and it is opened for exploration after that, it is expected that First GAS will be available within 5 years, previously taking as long as 9 years because technology is now more developed. Therefore, exploration and production can be carried out more quickly. This will create energy security for both countries,' Mr. Montri said. As for the G1/61 project (Erawan field), the current average production capacity is 450 million cubic feet per day. This will accelerate production to 550 million cubic feet per day in March. and will accelerate to increase to 800 million cubic feet per day. according to the conditions of the production sharing contract (PSC) within the last week of March Meanwhile, block G2/61 (Bongkot field) currently has a production capacity of 840 million cubic feet per day. higher quantity That must be delivered according to the contract to the buyer on a daily basis (DCQ) of 700 million cubic feet per day. As for the Arthit field, production is still maintained at 340 million cubic feet per day, higher than the DCQ contract of 290 million cubic feet per day. PTTEP is in the process of negotiating with PTT and the government to increase the trading volume to 340 million cubic feet per day To increase energy security for the country It will also help lower the price of Pool GAS. However, what is still a concern is the source of Phailin petroleum production. at Chevron Thailand Exploration and Production is the operator which will end the concession in the year 2028 (2028) if it is still not clear about If the concession period is not extended for another 10 years to the year 2038 or there is a delay in consideration, it will affect the amount of gas production that will decrease. From the present production capacity is 400 million cubic feet per day. There may be a repeat of the problem at Erawan. which entered the production area late and caused gas shortages Impact on electricity costs As for the progress of the CCS Hub project in the northern Gulf of Thailand It is an open area and not a petroleum production area. It is considered a national cooperation of government agencies. between the Department of Mineral Fuels and the Japan Organization for Metals and Energy Security (JOGMEC), Japan and PTTEP to help support the reduction of carbon dioxide emissions. and the development of the Carbon Capture and Storage (CCS) project, it was initially found that there is a geological structure that should be able to store carbon dioxide or CO2, with the Department of Fuel working together with Japanese agencies and assigned PTTEP and companies from Japan to study together. and plans to explore whether the area has an appropriate subsea rock structure capable of storing carbon dioxide or not. Pilot project section To take carbon dioxide to store in the old drilling holes of the Arthit field, amounting to 1 million tons of carbon dioxide equivalent per year. Still stuck wit h the problem of obligations and compensation that the government PTTEP will receive both of these matters. The government sector will have to accelerate clarity in the criteria to promote investment further. Source: Thai News Agency
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