Australia-based Tap Oil has more than tripled its proven and probable reserves from the Manora field in concession G1/48, offshore Thailand.
Operator Pearl Energy has defined the Manora field development concept and is finalising its plans for development.
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Tap manging director and CEO Troy Hayden said: "We are very pleased that the Manora development has now progressed to a point where we are able to book the 6.1 million barrels as 2P reserves. The addition of 6.1mmbbls increases Tap’s 2P reserve position by more than three times to 8.2mmbbls.
"Furthermore, the increase in the expected ultimate recovery from the field from 24mmbbls to 31mmbbls supports our confidence in making the acquisition just over a year ago."
Peak production from the field is expected to hit about 15,000 barrels per day in early 2014.
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By GlobalData
