KrisEnergy Suspends Wassana Oil Field Production 'Until Further Notice'

OE Staff
Wednesday, June 3, 2020

Singapore-based oil and gas company KrisEnergy has suspended production from its Wassana oil field in the Gulf of Thailand citing Covid-19 pandemic and low oil prices. It will cut its Thailand workforce by 25 percent, too.

"In view of the many uncertainties ahead – the duration of the COVID-19 pandemic, speed of global economic regeneration and recovery in petroleum demand, and the magnitude and sustainability of any upturn in oil prices – production at the KrisEnergy-operated Wassana oil field has been suspended until further notice," KrisEnergy said Wednesday.

Gross production at Wassana oil field averaged 3,605 barrels of oil per day (“bopd”) in the first quarter of 2020 and the Company’s working interest production was 3,208 bopd. KrisEnergy holds an effective 89.0% working interest in the G10/48 concession and Palang Sophon Offshore holds an
effective 11% working interest. 

The Wassana field in the G10/48 concession in the Gulf of Thailand came onstream in August 2015 and comprises a mobile offshore production unit (“MOPU”) and a floating storage and offloading (“FSO”) vessel.

KrisEnergy said Wednesday it had terminated the bareboat charter with Rubicon for the FSO vessel, and that it would move the MOPU from the offshore location.

"The company is in discussions regarding the warm-stacking of the MOPU with a skeleton crew and supported from the Songkhla shore base. Due to the suspension of Wassana production, the company will reduce its workforce in Thailand by approximately 25.0%," KrisEnergy said.

Operations at the Group’s remaining producing assets – the B8/32 oil and gas fields in the Gulf of Thailand and the Bangora gas field in Block 9, onshore Bangladesh – continue as usual, it added.

Categories: Energy Activity Production Asia Thailand

Related Stories

INEOS Wraps Up Acquisition of CNOOC’s US Oil and Gas Assets

All Gas from Conrad’s Mako Field to be Sold to Indonesia’s PLN

Eco Wave Finds Partner for Wave Energy Project in India

ADNOC Secures LNG Supply Deal with India's BPCL

BP Targets 44% Oil, 89% Gas Increase from India’s Mumbai High Field

CNOOC’s South China Sea Oil Field Goes On Stream

China’s CNOOC Brings Bohai Sea Oil Field On Stream

AI & Offshore Energy: The Higher the Stakes, the More Value AI Creates

Sunda Energy Closing in on Jack-Up Deal for Chuditch-2 Appraisal Well

CNOOC Brings Bohai Sea Oil Field On Stream

Current News

INEOS Wraps Up Acquisition of CNOOC’s US Oil and Gas Assets

Fire at Petronas Gas Pipeline in Malaysia Sends 63 to Hospital

Japan’s ENEOS Xplora, PVEP Ink Deal for Vietnam Offshore Block

CNOOC Makes Major Oil and Gas Discovery in South China Sea

Valeura’s Assets in Gulf of Thailand Remain Operational After Earthquake

Op-Ed: Kazakhstan’s National O&G Firm Positioning Itself as Global Energy Player

Woodside to Shed Some Trinidad and Tobago Assets for $206M

CNOOC Sees 11% Profit Growth in 2024 Driven by Record Oil Production

‘Ultra-Mega’ Offshore Deal for L&T at QatarEnergy LNG’s North Field Gas Scheme

Keel Laying for Wind Flyer Trimaran Crew Boat

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com