PTTEP Makes Gas Discovery Offshore Australia

PTT Exploration and Production Public Company Limited (PTTEP) has made a new gas discovery offshore Australia.

The find was made through the Orchid-1 exploration well, which is located in the Timor Sea.

Starting in January this year, the drilling of Orchid-1 was undertaken to a total depth of 9,596 feet. The well encountered gas and condensate, with the net pay thickness around 111 feet.

“The result is in line with PTTEP’s expectation and will be incorporated into development planning of Cash-Maple field, which contains 3.5 trillion cubic feet of resources,” PTTEP said in a company statement posted on its website on the 8^th March.

Headquartered in Bangkok, PTTEP is a national petroleum exploration and production company which conducts projects all over the world.

On the 30^th January, the company reported a net profit jump of 89 percent in 2018, compared with 2017.

PTTEP’s President and Chief Executive Officer is Phongsthorn Thavisin, was crowned a Knight of the Legion of Honour by France last month.

Source: Rigzone