With the reprocessed 3D seismic over the field now complete and interpreted, the first drilling phase will start in June using a local Thailand-based rig contracted from RDS Asia.
The program will comprise between four and six appraisal/development wells - including the Carnarvon’s two free carried wells – to improve oil production from the licences. These wells are planned to be drilled before the monsoon season starting September.
Following the completion of the current 3D seismic survey operations, Carnarvon said the operator, Canadian-based Pan Orient, plans to bring in a second truck mounted rig in October to accelerate the drilling program.
The second phase will comprise 10 to 15 wells, mostly outside the production areas, with the aim of finding new reserves. Being onshore, any new discovery can be quickly tied into production, according to the Perth-based company.
An independent assessment by Gaffney, Cline and Associates has determined the Wichian Buri Oil Field, and a nearby small field, contains 14.2 million barrels of proven and probable (2P) reserves. With its 40% interest, Carnarvon’s net share is 5.68 million barrels.
Wichian Buri currently produces at about 75 barrels of oil per day.
In other news, Carnarvon said the $A500,000 sale of its equity in New Guinea permits PRL/4 and PRL/5 is nearing completion. The proceeds will be put towards the 2006 Wichian Buri work program, the company said.
The Wichian Buri joint venture comprises operator Pan Orient, which holds a 60% stake, and Carnarvon (40%).
