Chevron Thailand’s fuel game-changer: Boosting domestic supply and breaking free from pricey imports

Chevron Thailand Exploration and Production goals to spice up home fuel provide to reduce the Thai government’s reliance on expensive liquefied natural gas (LNG) imports, with plans to increase petroleum production in the Gulf of Thailand.
The US-based company was granted a licence to explore and produce petroleum at Block G2/65, an space of 15,030 square kilometres in the gulf, beneath a production-sharing contract signed with the Department of Mineral Fuels. Chevron intends to produce pure fuel at Block G2/65 and likewise expects to search out crude oil at the site, which is close to the Pailin fuel block where the company is currently operating. Chatit Huayhongtong, president of Chevron Thailand, said…
“Petroleum from this block will strengthen Thailand’s energy security sooner or later.”
The agency is making ready to conduct a seismic survey to review the geological construction intimately to determine the feasibility of petroleum discovery. Chevron plans to drill two exploration wells within six years and, if exploration confirms good prospects, further investments shall be made to develop the wells into manufacturing wells.
In Plain , Chevron is planning to make further investments in the Pailin block and is in the means of asking authorities to increase the petroleum production period for another 10 years. The manufacturing licence at Pailin, which incorporates the Pailin and North Pailin fields, expires in 2028. Chatit added…
“Our funding plans will not solely be good for Thailand in terms of tax and royalty assortment however may even assist the country cope with expensive power costs.”

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