Singapore Petroleum Makes Gas Discovery at Thai Binh-1X

Singapore Petroleum Makes Gas Discovery at Thai Binh-1X

November 27, 2006 Filed Under: Mining Services, Oil and Gas  

Singapore Petroleum Company says that the Thai Binh-1X successfully tested natural gas and condensate over two sand intervals. The two intervals flowed at a maximum combined rate of approximately 23.0 million standard cubic feet per day of natural gas through a 128/64″ choke at a wellhead pressure of 534 psi. Condensate was produced at a rate of three barrels per million cubic feet.

Another drill-stem test is currently being conducted to test the hydrocarbon potential of the upper sand intervals.

SPC is a regional oil and gas company with interest in oil and gas exploration and production, refining, terminalling and distribution, marketing and trading of crude and refined petroleum products. It is an associated company of Keppel Oil & Gas Services Pte Ltd, a wholly-owned subsidiary of Keppel Corporation Limited.

SPC, through its wholly-owned subsidiary, SPC Vietnam (Blocks 102/106) Co. Ltd, holds a 20% participating interest in the Blocks.

The Thai Binh prospect is located in Block 102, Song Hong Basin, offshore northern Vietnam. The prospective area is about 50 kilometers south of Hai Phong City and in water depth of 28 meters.

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