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KrisEnergy suspends production at Wassana oilfield

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Oilfield Technology,

KrisEnergy has suspended production at the Wassana oilfield in the Gulf of Thailand until further notice, citing the economic uncertainty generated by the Covid-19 pandemic and the current state of oil prices.

Operations at the company’s remaining producing assets – the B8/32 oil and gas fields in the Gulf of Thailand and the Bangora gas field in Block 9, onshore Bangladesh – continue as usual.

Gross production at the Wassana oilfield – operated by KrisEnergy – averaged 3605 bpd in 1Q20 and the company’s working interest production was 3208 bpd. KrisEnergy holds an effective 89% working interest in the G10/48 concession and Palang Sophon Offshore holds an effective 11% working interest.

The Wassana field in the G10/48 concession in the Gulf of Thailand came onstream in August 2015 and comprises a mobile offshore production unit (MOPU) and a floating storage and offloading (FSO) vessel. Agreements with respect to the FSO have been terminated. The company is in discussions regarding the warm-stacking of the MOPU with a skeleton crew and supported from the Songkhla shorebase.

Due to the suspension of production at Wassana, the company will reduce its workforce in Thailand by approximately 25%.

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