KrisEnergy finalizes MP G10 deal (Thailand)

KrisEnergy Ltd., an independent upstream oil and gas company, has referred to the announcement dated 21 May 2014 in relation to the acquisition of the entire issued and paid up share capital of MP G10 and announces that completion of the Acquisition took place today.

The sale and purchase agreement was signed on 21 May 2014, and the effective date for the Acquisition is 27 May 2014. MP G10 will be held under the Company’s wholly-owned subsidiary, KEML, and will be renamed as KrisEnergy G10 (Thailand) Limited. Following Completion, the Company will indirectly hold the operatorship of, and the full 100% working interest in G10/48.

G10/48 covers 4,696 sq km in the Gulf of Thailand over the southern section of the Pattani Basin in water depths of up to 60 meters. The licence contains the Wassana oil discovery, for which the Company intends to submit a Production Area Application in 2014. First production from the Wassana oil development is anticipated in the second half of 2015 and is expected to peak at 10,000 bopd.

Chris Gibson-Robinson, Director Exploration & Production, commented: “We have already built up our technical and operations teams in anticipation of the completion of this acquisition, and it is our intention to finalise the Wassana development concept as soon as possible and declare final investment decision. This will be our first operated field as KrisEnergy to come into production in the Gulf of Thailand and we are committed to the timely execution of the project with emphasis on the environment, health, safety and security.” 

Related: KrisEnergy becomes operator in G10/48 licence (Thailand)

 

Press Release, May 27, 2014

 

Share this article

Follow Offshore Energy Today

Events>

<< May 2019 >>
MTWTFSS
29 30 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

08th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

OWI WA 2019

West Africa’s only dedicated Offshore Well Intervention Conference is returning for its second year…

read more >

OIL & GAS PHILIPPINES 2019

Oil & Gas Philippines event display products like Oil & gas, fire protection systems and materials…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply