Singapore-based upstream petroleum company KrisEnergy (Gulf of Thailand) Co has produced the first crude oil from the offshore Wassana petroleum block (G10/48), according to the Energy Ministry's Mineral Fuels Department.
Director-general Puangthip Silpasart said the first day of production last Sunday yielded 117 barrels from the first well. The company plans to increase production to 2,000 barrels per day this month , targeting 10,000 in the near future.
The G10/48 block has proven reserves of as much as 19.5 million barrels or seven years of production.
KrisEnergy was awarded an exploration licence in December 2006 by the department under the 19th round of petroleum exploration.
After spending years on exploration, the company found potential for commercial production and received a production licence in February.