KrisEnergy has discovered oil at the first exploration well in the Wassana oil field, Gulf of Thailand.

The Rayrai-1 exploration well intersected around 50ft of net oil-bearing sandstones after reaching a total depth of 6,382ft. Once the Rayrai-1 well is plugged, the Key Gibraltar will start drilling up to 15 Wassana development wells.

The Key Gibraltar jackup rig was used to drill the well, which is in the 4696km² G10/48 licence, located in the southern section of the Pattani basin.

"We will further investigate this area once we have completed development drilling at the Wassana field to the south."

Located in 170ft water depth, the well lies 2.25km north of the Niramai oil discovery drilled in 2009.

KrisEnergy exploration and production director Chris Gibson-Robinson said: "This is a very satisfactory result as Rayrai-1 confirms the northerly extension of the Niramai hydrocarbon accumulation.

"We will further investigate this area once we have completed development drilling at the Wassana field to the south."

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KrisEnergy is developing the Wassana oil field using a mobile offshore production unit. Production at Wassana is due to start in the second half of 2015 and plateau at about 10,000 barrels of oil per day.

KrisEnergy is the operator of G10 / 48, and holds an 89% working interest with partner Palang Sophon Offshore (11%). It is focused on the exploration, development and production of oil and gas in the basins of Southeast Asia.

The company owns stakes in 19 licences, including those in Bangladesh, Cambodia, Indonesia, Thailand and Vietnam, covering 65,049km².