Page 46 - Oil&Gas-AustralAsia-2015-Issue-5
P. 46
T HAILAND
PTT posts another loss for Q3
By Marie RYAN
Thailand’s largest energy company Its previous record loss was 26.6 bil- weakest period for state-controlled
PTT reported in November another lion baht in fourth quarter of 2014. PTT and earnings should recover in
record net loss in the third quarter, Third-quarter sales fell 27 per cent the fourth quarter when PTT will
mainly due to losses at its upstream on the year, mainly due to lower book gain from selling its 36 per
and exploration subsidiary and a prices of petroleum and petrochem- cent stake in refiner Star Petroleum
weak gas business. ical products, while the depreciation Refining in an IPO later this month,
It posted a net loss of 26.6 billion of the baht against the dollar led to analysts said.
baht (US$74 million) for July-Sep- a foreign exchange loss of 6.9 billion Analysts have cut earnings forecast
tember, higher than the average baht (US$19 million), it said in a for PTT by 30 per cent-60 per cent
forecast for a loss of 24 billion baht statement. to reflect weaker performance of its
(US$66 million) from eight analysts The third quarter is likely to be the subsidiaries, which are affected by
polled by Reuters. weakness of global oil prices.§
Ophir records disappointment at Soy Siam
By Marie RYAN
An Ophir worker on the drilling floor.
Image courtesy of Ophir
Ophir Energy has announced that However, all reservoirs were dry The rig will now move to drill the
it has completed operations on the and no hydrocarbon shows were Parichat South West prospect. This
G4/50-10 exploration well that was encountered. The well has therefore well is independent of Soy Siam as
testing the Soy Siam prospect with been plugged and abandoned as a it is testing a different petroleum
the well reaching a total depth of dry hole. system.
1,627 metres (True Vertical Depth Preliminary well failure analysis The Parichat complex is a cluster
Sub-Sea) and encountered the pri- suggests that the structure had no of four fault blocks located 30 km
mary Miocene reservoir targets on access to charge, which was identi- south of the Bualuang field that have
prognosis in terms of both reservoir fied pre-drill as one of the key risks. potentially been charged from deep-
quality and depth. er in the South Western Sub-Ba-
sin. Each fault block has multiple
stacked, Miocene and Oligocene
reservoir targets.
The South West fault block is the in-
itial target with a mean prospective
resource of 25 million barrel of oil
and a 32 per cent chance of success.
If successful, the Parichat South East
fault block would form an immedi-
ate follow on location.§
A A44 OIL & GAS ustral SIA NOVEMBER/DECEMBER 2015 www.oilandgasaustralasia.com
PTT posts another loss for Q3
By Marie RYAN
Thailand’s largest energy company Its previous record loss was 26.6 bil- weakest period for state-controlled
PTT reported in November another lion baht in fourth quarter of 2014. PTT and earnings should recover in
record net loss in the third quarter, Third-quarter sales fell 27 per cent the fourth quarter when PTT will
mainly due to losses at its upstream on the year, mainly due to lower book gain from selling its 36 per
and exploration subsidiary and a prices of petroleum and petrochem- cent stake in refiner Star Petroleum
weak gas business. ical products, while the depreciation Refining in an IPO later this month,
It posted a net loss of 26.6 billion of the baht against the dollar led to analysts said.
baht (US$74 million) for July-Sep- a foreign exchange loss of 6.9 billion Analysts have cut earnings forecast
tember, higher than the average baht (US$19 million), it said in a for PTT by 30 per cent-60 per cent
forecast for a loss of 24 billion baht statement. to reflect weaker performance of its
(US$66 million) from eight analysts The third quarter is likely to be the subsidiaries, which are affected by
polled by Reuters. weakness of global oil prices.§
Ophir records disappointment at Soy Siam
By Marie RYAN
An Ophir worker on the drilling floor.
Image courtesy of Ophir
Ophir Energy has announced that However, all reservoirs were dry The rig will now move to drill the
it has completed operations on the and no hydrocarbon shows were Parichat South West prospect. This
G4/50-10 exploration well that was encountered. The well has therefore well is independent of Soy Siam as
testing the Soy Siam prospect with been plugged and abandoned as a it is testing a different petroleum
the well reaching a total depth of dry hole. system.
1,627 metres (True Vertical Depth Preliminary well failure analysis The Parichat complex is a cluster
Sub-Sea) and encountered the pri- suggests that the structure had no of four fault blocks located 30 km
mary Miocene reservoir targets on access to charge, which was identi- south of the Bualuang field that have
prognosis in terms of both reservoir fied pre-drill as one of the key risks. potentially been charged from deep-
quality and depth. er in the South Western Sub-Ba-
sin. Each fault block has multiple
stacked, Miocene and Oligocene
reservoir targets.
The South West fault block is the in-
itial target with a mean prospective
resource of 25 million barrel of oil
and a 32 per cent chance of success.
If successful, the Parichat South East
fault block would form an immedi-
ate follow on location.§
A A44 OIL & GAS ustral SIA NOVEMBER/DECEMBER 2015 www.oilandgasaustralasia.com
