PTTEP Energy Development Company, a subsidiary of PTT Exploration and Production Public Company (PTTEP), and Canada-headquartered Valeura Energy have taken a final investment decision (FID) to move forward with an initial gas development at an offshore natural gas field in Block G3/65, located in the Gulf of Thailand.
With the final investment decision for the Bussabong gas field in the G3/65 project now out of the way, the development is expected to take approximately two years; thus, first natural gas production is targeted for 2028 at a rate of around 30 million standard cubic feet per day (scfd), increasing to 40 million scfd by 2030 to help meet Thailand’s growing energy demand.
PTTEP plans to produce natural gas through a subsea pipeline system connected to the central processing platform (CPP) and production facilities of the nearby North Bongkot field in the G2/61 project. Leveraging this existing infrastructure is expected to enable the Bussabong gas field to be developed more efficiently and expeditiously.
The development plan will proceed following approval of the relevant agreements by the government authorities. Further exploration activities are planned to be conducted in other areas of the G3/65 project, including drilling an exploration well in the Nong Yao Northeast prospect to further assess the petroleum potential.
A discovery could provide an opportunity to increase the project’s production capacity in the future. PTTEP was awarded petroleum exploration and production rights for the G3/65 project under a production sharing contract (PSC) in 2023 and serves as the operator.