ENERGY CURRENT
By Hwee Hwee Tan
Filed from Singapore
11/4/2008
SINGAPORE: Cambodia may receive a proposed development plan as early as the end of this year from a consortium led by U.S.-based Chevron Corp. for the shallow water oil discoveries in the country's offshore Block A, according to a senior government official.
Chevron has identified oil columns in nine of the wells, although only two wells with significant columns have been tested. The flow rates varied between 400 and 800 b/d of oil with associated gas rates between 100 and 400 MMcf/d. This gives the discovery wells a low gas to oil ratio of between 250 and 500 cubic feet of gas per barrel of oil, Cambodian National Petroleum Authority (CNPA) Vice-Chairman Ho Vichit said at the Asia Oil and Gas Investment Congress in Singapore.
Negotiations are underway between the Cambodian government and the Chevron-led consortium with the hope of unveiling the country's first oil development next year.
Asked about the expected production split, Ho said the local government may take about 70 per cent of the crude output. Contracts for producing oil fields will span over a 30-year period plus an option to extend for another five years.
CNPA is also looking at building the country's first refinery to its crude outputs. Japan's Toyo Engineering was contracted to conduct a feasibility study on a 50,000 b/d refinery in 2003.
By Hwee Hwee Tan
Filed from Singapore
11/4/2008
SINGAPORE: Cambodia may receive a proposed development plan as early as the end of this year from a consortium led by U.S.-based Chevron Corp. for the shallow water oil discoveries in the country's offshore Block A, according to a senior government official.
Chevron has identified oil columns in nine of the wells, although only two wells with significant columns have been tested. The flow rates varied between 400 and 800 b/d of oil with associated gas rates between 100 and 400 MMcf/d. This gives the discovery wells a low gas to oil ratio of between 250 and 500 cubic feet of gas per barrel of oil, Cambodian National Petroleum Authority (CNPA) Vice-Chairman Ho Vichit said at the Asia Oil and Gas Investment Congress in Singapore.
Negotiations are underway between the Cambodian government and the Chevron-led consortium with the hope of unveiling the country's first oil development next year.
Asked about the expected production split, Ho said the local government may take about 70 per cent of the crude output. Contracts for producing oil fields will span over a 30-year period plus an option to extend for another five years.
CNPA is also looking at building the country's first refinery to its crude outputs. Japan's Toyo Engineering was contracted to conduct a feasibility study on a 50,000 b/d refinery in 2003.
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