KrisEnergy commences Gulf of Thailand drilling campaign

10/23/2017

SINGAPORE -- KrisEnergy Ltd., an independent upstream oil and gas company, has announced that on Oct. 20, 2017, the PV DRILLING I jackup rig commenced drilling of the East Mayura-1 exploration well in the G10/48 contract area in the Gulf of Thailand.

East Mayura-1 is the first well in a potential eight-well program, including five firm wells plus one optional well in the existing Wassana oil field in G10/48 and one optional exploration well in the Wassana satellite development area north of the Wassana production area. The campaign is expected to take approximately 125 days, including the optional wells.

KrisEnergy is the operator of G10/48 and holds 89% working interest. Palang Sophon Limited holds the remaining 11%. The PV DRILLING I rig is owned and operated by Petrovietnam Drilling & Well Service Corporation.

The G10/48 contract area covers 1,677 km2 over the Southern Pattani basin in water depths of up to 60 m. In addition to Wassana oil field, which came on stream in August 2015, the concession contains the Niramai, Mayura and Rayrai oil discoveries.

The Gulf of Thailand is a core operational area for KrisEnergy. The Company has non-operated working interests in the B8/32, B9A and G11/48 producing blocks and is the operator of G10/48 and G6/48, which contains the Rossukon oil discovery. The Company also operates Block A across the maritime border in Cambodian waters, where it is seeking to develop the Apsara oil field.

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