Mubadala Petroleum and its co-concessionaire, Kris Energy, have approved the development of the Nong Yao field in Concession G11/48 in the Gulf of Thailand.
Mubadala Petroleum, through its wholly-owned affiliates, holds a 75 percent interest in the G11/48 concession and is operator. The remaining 25 percent interest is held by KrisEnergy.
The Nong Yao field was discovered in 2009. Its development follows on the heels of the Manora field project that was approved in July 2012. Nong Yao is located in the southern Gulf of Thailand approximately 165 kilometers offshore in water depth of about 75 meters. The development comprises a Wellhead Processing Platform (WPP) and a minimum facility Wellhead Platform (WHP) with crude export via a Floating Storage and Offloading (FSO) vessel. The facilities will have production capacity of up to 15,000 barrels of oil per day and 30,000 barrels of fluids per day.
The initial development phase will consist of 23 development wells targeting the primary reservoirs. It is planned to commence production in the first half 2015 and peak rates are expected to reach approximately 10,000 barrels of oil per day within a few months of first oil.
Mubadala Petroleum expects the Nong Yao project to develop some 12.4 million barrels (gross) of oil via a combination of artificial lift and waterflood technologies. Field life is projected at around seven years.
Contract awards for the platform construction and installation, and the supply of the dedicated FSO unit, are currently being finalized.