KrisEnergy has started oil production from the Gulf of Thailand’s Wassana oil field G10/48 concession.
The oil field begins production from the first development well in 15 months after KrisEnergy took over operatorship of G10/48 in May 2014.
Production from the field is expected to reach a peak rate of around 10,000 barrels of oil per day (bopd) by the end of 2015 as additional development wells are drilled and completed by the jack-up rig Key Gibraltar.
KrisEnergy Exploration and Production director Chris Gibson-Robinson said: "Wassana is KrisEnergy’s first operated oil project and the start of production marks a major milestone in the company’s evolution.
"Work is now underway to bring another five wells on stream and to optimise production in this initial wave of drilling. This field is the first of a series of KrisEnergy-operated developments we are working on in Thailand, Cambodia and Indonesia."
The company plans to drill up to 15 development wells, 14 producer wells and a water disposal well.
According to KrisEnergy, the Wassana infrastructure consists of a mobile offshore production unit (MOPU), the MOPU Ingenium, a mooring buoy in addition to the Rubicon Vantage floating storage offloading vessel.
Covering 4,696km² over the Southern Pattani Basin in water depths of up to 60m, the G10/48 contract area contains three other discoveries, Niramai and Mayura from 2009 and Rayrai in 2015.
The contract area is 89% owned by KrisEnergy and the remaining 11% working interest is held by Palang Sophon Offshore.