ChevronTexaco Acquires Block 9A Close to Existing Production Offshore Thailand

abarrelfullabarrelfull wrote on 20 Aug 2015 08:40
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Jul. 22, 2003

ChevronTexaco announced today that it has acquired the exploration and production rights to offshore Block 9A which was recently created by the Royal Thai Government and is located in the Gulf of Thailand.

The block is an approximately 80 square kilometer (31 square mile) tract adjacent to the eastern boundary of the ChevronTexaco-operated Block 8/32, in a water depth of approximately 250 feet (76 meters). ChevronTexaco will operate the block and hold a 51.66 percent interest. The other partners in the block are Thaipo Limited, a subsidiary of U.S.-based Pogo Producing Co. (46.34 percent) and the Bangkok-based Sophonpanich family (2 percent).

Isikeli Taureka, managing director of Chevron Offshore (Thailand) Ltd. said, "We are very pleased with the acquisition of the block, and are ready to work with our partners to explore for oil and gas." He added, "We believe Block 9A, where we plan to drill very soon, will be successful when developed via our existing production operations in nearby Block B8/32."

Chevron Offshore (Thailand) Ltd., a unit of ChevronTexaco Corporation's Asia South business unit, acquired Block 9A from the previous holders, BG Group (50 percent), Chevron Overseas Petroleum (Thailand) Ltd. (33.33 percent) and Rio Tinto (16.67 percent).


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