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PTTEP Makes New Gas Discovery in Orchid-1

Source: www.gulfoilandgas.com 3/8/2019, Location: Not categorized

PTTEP Australasia, a wholly owned subsidiary of PTTEP had made a successful gas and condensate discovery at Orchid-1, the first exploration well in Permit AC/P54 located in the Timor Sea, Australia.

Spudded in January this year, the well was drilled to a total depth of 2,925 metres and encountered gas and condensate with a net pay thickness around 34 metres. The result is in line with PTTEP's expectation and will be incorporated into development planning of Cash-Maple field which contains 3.5 TCF of resources.

AC/P54 is an exploration permit within the PTTEP Australasia project which comprises Permits AC/L3, AC/RL4, AC/RL5, AC/RL6, AC/RL7 (Cash-Maple field), AC/RL10, AC/RL12 and AC/P54 in the Timor Sea off northern Western Australia.

Background
In February 2018, PTTEP Australasia submitted an Exploration and Appraisal Drilling Environment Plan for up to five wells within exploration permit AC/P54 and retention lease AC/RL7. The Orchid-1 well is the first well in the drilling plan. The results of the Orchid-1 drilling program will be incorporated into exploration and appraisal well designs for additional wells that may be drilled within AC/P54 or AC/RL7.

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