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

CNOOC Starts Production at Two New Oil and Gas Projects

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

Shell Predicts 60% Rise in LNG Demand by 2040 with Asia Leading the Way

Six New Gas Wells in Line for BP’s Shah Deniz Field in Caspian Sea

ONGC and BP Sign Deal to Boost Production at India's Largest Offshore Oil Field

CNOOC Starts Production at Offshore Oil Filed Equipped with CCUS Tech

Kazakhstan Looks to Improve Oil Production Agreements Terms

EnQuest to Acquire Harbour Energy's Vietnamese Assets

CNOOC’s South China Sea Oil Field Goes On Stream

Current News

MODEC, Sumitomo Partner Up for Delivery of Gato do Mato FPSO

Chuditch Gas Field Up for Summer Drilling Ops as Sunda Reshapes Ownership Structure

EnQuest Bags Two Production Sharing Contracts off Indonesia

Hanwha Drilling’s Tidal Action Drillship En Route to Petrobras’ Roncador Field

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

MODEC Wins ExxonMobil Guyana’s Hammerhead FPSO Contract

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

Indonesia Awards Oil and Gas Blocks to Boost Reserves

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

CNOOC Puts Into Production New Oil Field in South China Sea

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