KrisEnergy begins drilling at Rossukon-2 exploration well, Gulf of Thailand

March 17, 2015

SINGAPORE -- KrisEnergy has announced that the Key Gibraltar jackup has started drilling the Rossukon-2 exploration well in G6/48 in the Gulf of Thailand, where the Rossukon oil accumulation was discovered in 2009.

Rossukon-2 lies 1 km northeast of the Rossukon-1 discovery well. The well is planned to reach total depth at 5,462 ft measured depth (-4,925 ft total vertical depth subsea) and will test Early Miocene stacked fluvial sandstones on a broad structural high.

The well will also appraise the Rossukon-1 reservoir, which tested 850 bopd, and is designed to identify additional volumes of oil that could move the discovery closer to commercial development.

Water depth at the Rossukon-2 well location is 210 ft.

G6/48 covers 566 km2 over the Karawake basin and lies to the north of the G10/48 license, where KrisEnergy is developing Wassana oil field.

The company took over operatorship of G6/48 in May 2014. It holds a 30% working interest in the concession and is partnered by Northern Gulf Petroleum, with 40%, and Mubadala Petroleum, with 30%.

KrisEnergy has contracted the Key Gibraltar jackup, owned by Shelf Drilling, for a firm six months for its Thai drilling program, which includes Rossukon-2 in G6/48 and 15 development wells in Wassana oil field.

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