Chevron oks multibillion-dollar gas project in Thailand
12-MAY-2008 Intellasia | Pipeline & Gas Journal
May 12, 2008 - 7:00:00 AM
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Chevron and its partners will start constructing the Platong Gas II natural gas project in the Gulf of Thailand. Total development cost of the field is approximately $3.1 billion with startup scheduled for 2011. The development, located in shallow water 120 miles (200 km) offshore, should add 420 MMcf/d processing capacity. Chevron is operator and holds a 69.8% participating interest with Mitsui oil Exploration Co. Ltd. (27.4%) and PTT Exploration and Production Public Co. Ltd. (2.8%).
"The Asia-Pacific region is poised to become the world's most significant oil and gas consumer with demand forecasted to grow by about 90% by 2030," said Jim Blackwell, president of Chevron Asia Pacific Exploration & Production Co. "The Platong Gas II project alone has the potential to satisfy 14% of the natural gas used for power generation in the Kingdom."
Chevron Australia Pty Ltd. plans to develop an LNG project based on its 100%-owned Wheatstone natural gas discovery. The facility on the northwest coast of mainland Australia will have initial capacity of at least one 5 million-ton-per-annum LNG production train with expansion capacity for additional trains.
The initial phase of development will tap an estimated 4.5 Tcf of natural gas resources located within the two Chevronoperated permits that include Wheatstone. Front-end engineering and design is expected to commence in 2009.
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