The three-phase oil field development will take place in the 3,093km2 Cambodia Block A located in the Khmer Basin in water depths of 50-80m.
KrisEnergy, the offshore Cambodian block’s operator since 2014, intends to develop the Apsara area in the north eastern section of the concession. The Apsara area, it says is among seven geological trends in the license to show potential presence of oil and gas.
KrisEnergy will hold 95% in Cambodia Block A, while the remainder 5% will be owned by the Cambodian government.
As per the agreement terms, the Singapore firm has nearly two months to declare its final investment decision following which the Apsara project will be formally launched. Plans are for the Apsara development to produce its first oil within 24 months of its launch.
KrisEnergy Cambodian activities chief operating officer and president Kelvin Tang said: “Our technical and project teams have a successful track record of bringing greenfield oil developments in the Gulf of Thailand into production on time and to budget.
“Apsara marks only the first phase of the development of Cambodia Block A, there remains further potential in other geological trends within the contract area for future investigation.”
According to KrisEnergy, phase 1A of the Cambodian oil project will see construction of a single unmanned minimum facility 24-slot wellhead platform. This platform will be producing oil to a moored production barge with a capacity of up to 30,000 barrels of fluid per day with gas, oil and water separation facilities on the vessel.
The oil will be transported through a 1.5km pipeline for storage to a floating, storage and offloading vessel which will be permanently moored.
