Total (Paris:FP) (LSE:TTA) (NYSE:TOT) and the partners of the
Bongkot Joint Venture announce that a Gas Sales Agreement has been
signed with PTT covering all gas production from the Greater
Bongkot South (GBS) field in the Gulf of Thailand. The Joint
Venture is operated by PTTEP (44.45%), alongside partners Total
(33.33%) and BG Group (22.22%).
With all the construction contracts for the GBS development
being awarded, GBS first production is expected in 2012. At
plateau, GBS will contribute 20,000 barrels of oil equivalent per
day to Total's production, an increase of approximately 50% to the
Group's production in Thailand. This development will enable the
Bongkot Joint Venture to further contribute to the increasing gas
demand in Thailand.
About the GBS development
The offshore GBS field is located in Gulf of Thailand's blocks
B16 and B17, approximately 200 kilometres East of Songkhla. This
new standalone development will consist of a central processing
platform, a quarters platform and 13 wellhead platforms.
The processing platform will have a capacity of 350 million
cubic feet of gas per day and 15,000 barrels of condensate per day.
Gas will be exported via a new build spur line to the PTT 3rd trunk
line while condensate will be exported to the existing Floating,
Storage and Offloading (FSO) vessel at the Greater Bongkot North
field, which is located 80 kilometres to the north.
Total Exploration and Production in Thailand
The Greater Bongkot North field (33.33%) is Total's main asset
in Thailand. In 2008 this field contributed 41,000 thousand barrels
of oil equivalent per day to the Group's production.
Total is also active in power in Thailand and holds a 28%
interest of Eastern Power and Electric Company Ltd (EPEC). Since
2003, EPEC has been operating the combined cycle gas power plant of
Bang Bo, with a capacity of 350 Mega Watts.
In Thailand as in all the countries where Total has activities,
the Group is engaged in initiatives towards the local communities
and the environment. In Thailand, Total supports a three-year
marine biodiversity program aimed at studying the marine ecosystems
at Khanom beach in the Gulf of Thailand. Furthermore, Total
supports a reforestation project in the Petchabun province, with
local communities being trained and hired to plant and maintain
trees. Total also promotes research and development by
co-sponsoring a corrosion laboratory at the King Mongkut's
University of Technology in North Bangkok.
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activities in more than 130 countries. Its 97,000 employees put
their expertise to work in every part of the industry - exploration
and production of oil and natural gas, refining and marketing, gas
& power and trading. Total is working to keep the world
supplied with energy, both today and tomorrow. The Group is also a
first rank player in chemicals. www.total.com
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