BG Increases Shareholding in Bongkot Gas Field, offshore Thailand

abarrelfullabarrelfull wrote on 16 May 2012 08:51
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21 December 1998

British Gas Thailand PTE Limited, a subsidiary of BG plc, has increased its interests to 22.222 per cent in the Bongkot field, which supplies around a third of Thailand's gas demand.

BG has bought the additional 2.222 per cent interest from Statoil.

BG's partners, PTTEP and TOTAL, have acquired the remaining 4.445 per cent and 3.333 per cent respectively from Statoil's original ten per cent interest in Bongkot, located in the Gulf of Thailand 600 kilometres south of Bangkok.

Frank Chapman, BG plc Executive Director, Exploration and Production said: "BG is pleased to have secured an increased interest in Bongkot, which plays a key role in Thailand's energy market, and is one of BG's most important overseas production assets."

Gas sales have progressively increased from an initial 150 million cubic feet per day in 1993 to the current 550 millions of standard cubic feet per day (mmscfd) in 1998. The Petroleum Authority of Thailand (PTT) is the sole purchaser of Bongkot gas. To date, all Bongkot reserves have been committed to this contract.

Notes to Editors

Bongkot Gas Field - The Bongkot gas field came on-stream in July 1993, with gas sales of 150 mmscfd, increasing steadily until July 1998, when deliveries were raised to 550 mmscfd, fully utilising the existing capacity of the export line. Operatorship was transferred as planned from TOTAL to PTTEP on 1 July 1998. Field reserves are estimated at four trillion cubic feet of gas and 62 million barrels of oil.


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