RESOURCES / PETROLEUM EXPLORATION

Oil income to rise B10bn from 2006

ARANEE JAIIMSIN

The Energy Ministry expects to collect 91.55 billion baht in revenue from petroleum exploration and production this year, a 10-billion-baht increase from last year.

Krairit Nilkuha, the director-general of the ministry's Department of Mineral Fuels, said total targeted revenue would consist of 35 billion baht in royalties, 47 billion in petroleum income taxes, 4.9 billion in special benefits and 4.65 billion baht from the Malaysia-Thailand Joint Development Area (MTJDA).

He attributed the growth to the additional production of 390 million cubic feet per day (mcfd) of natural gas from Block A-18, or the Cakerawala field of the MTJDA, and the additional 100 mcfd from gas fields operated by Chevron Thailand Exploration and Production Ltd.

In addition, the Jasmine field in the Gulf of Thailand, operated by Pearl Oil (Thailand) Co Ltd, had raised its crude oil output from around 7,500 barrels per day in November last year to between 20,000 and 22,000 bpd at the beginning of the year. After the operator installed the third production platform in mid-2007, production capacity would increase to 30,000 bpd, said Mr Krairit.

As well, Chevron Offshore (Thailand) Ltd has recently found crude with a flow rate of 14,000 barrels per day at the Lanta production area located in Block G4/13 in the Gulf of Thailand, added Mr Krairit.

To date, Thailand's total petroleum output averaged 651,900 barrels of oil equivalent per day, consisting of 2.5 billion cubic feet per day of natural gas, 77,700 bpd of condensate and 143,900 bpd of crude.

The Energy Ministry yesterday signed the final two petroleum concessions of the 19th concession bidding round held last year to award the rights to explore and develop oil and gas in three onshore blocks: L3/48 in Lampang and Lamphun, L9/48 in Lampang, Tak and Sukhothai, and L39/48 in Nakhon Ratchasima and Buri Ram.

JSX Energy (Thailand) Ltd will operate blocks L3/48 and L9/48, while India-based Adani Port Infrastructure Private Ltd has the rights to Block L39/48.

The ministry plans to open the 20th bidding round next month. A total of 65 blocks (56 onshore and nine offshore in the Gulf of Thailand) would be put up for bid, said Mr Krairit.

The ministry has taken steps to amend three major aspects of the Petroleum Act of 1971 to promote exploration and production. The amendment is now under consideration by the Council of State, after which it will go to the cabinet and the National Legislative Assembly for final endorsement and proclamation into law, said Mr Krairit.

Bangkok Post

Last Updated : Saturday April 21, 2007