Mubadala takes more interest in Thai field

Mubadala Petroleum has increased its interest in its operated G1/48 Concession in the Gulf of Thailand, which includes the Manora field.

Tap Oil, a partner in the project, said on Thursday that Northern Gulf Petroleum had agreed to transfer its 10% shareholding in the G1/48 Manora block to the operator Mubadala Petroleum G1 (Thailand) Limited, a subsidiary of Mubadala Petroleum.

As a joint venture party, Tap said it had consented to this transfer. The transfer will become effective upon the execution of the relevant supplementary concession pursuant to the Thailand Petroleum Act BE 2514, 1971.

Upon finalization of the transfer, the interests in the concession will be: Tap Energy 30% and MP G1 (Thailand) Limited 70% and operator.

Mubadala last December completed its exploration drilling campaign at the G1/48 Manora oil field with disappointing results.

Namely, Manora JV partners approved a three-well exploration drilling program, plus a contingent appraisal sidetrack well, at the G1/48 at the end of October 2019.

The first well, the Inthanin-1, spudded on November 20, 2019, and reached a total depth of 2528m on November 24, 2019. No significant hydrocarbon shows were encountered at the first well.

Following the Inthanin-1 well, the Valaris JU-115 jack-up drilling rig moved to drill the second well in the campaign. The Yothaka East-1 well spudded on November 28 and reached a total measured depth of 3,367m on December 3.

Due to mixed results from the second well, Mubadala decided not to drill the third exploration well in the campaign, but instead to drill an appraisal well via a sidetrack from Yothaka East.

The sidetrack well reached a total measured depth of 3881m on December 11, 2019.