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KrisEnergy edges closer to 1st Q oil production target for Cambodia Apsara oil platform

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KrisEnergy Ltd. announced it has held a ceremony to mark the cutting of first steel for the minimum facilities wellhead platform (the “MiniPlatform”) for the Apsara oil field in Block A, offshore Cambodia, the nation’s maiden and currently only hydrocarbon development, thus edging closer to its commitment of extracting the first drop oil crude in 1st Q, 2020.

The ceremony, held at the PT Profab1 facility on Batam Island, Indonesia, was attended by a delegation from the Royal Government of Cambodia led by Meng Saktheara, Secretary of State, Ministry Mines and Energy (“MME”); Director General of Petroleum, MME; and Siek Sopheak, Deputy Director General, General Department of State Property and Non Tax Revenue of the Ministry of Economics and Finance. KrisEnergy was represented by Kelvin Tang, Chief Executive Officer and President of Cambodian operations, and Brian Helyer, VP Operations.

The Apsara field in Cambodia Block A lies over the Khmer Basin, an unproduced geological basin in Cambodian maritime waters of the Gulf of Thailand. Due to the unproven production performance of the basin, development of the Apsara area will be in several phases to mitigate risk and provide time for the collection and analysis of critical data to be applied in future phases.

This development phase, Mini Phase 1A, comprises the Mini-Platform and five initial development wells connected to the Ingenium II production barge for oil, gas and water processing. Shuttle tankers will transport crude oil from the barge. Apsara oil is scheduled to flow in the first half of 2020 and the field is expected to reach a peak rate of 7,500 barrels of oil per day.

Upgrading and refurbishment of Ingenium II commenced in November 2018 in Keppel Shipyard Ltd’s Benoi facility in Singapore. Installation and integration have been completed for all main new packages – power generation, central control room, electrical switch room, living quarters, pedestal crane, electrical transformers and produced water processing package – and mechanical completion of all systems is scheduled for December 2019 before commissioning in January 2020.

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