Mubadala Petroleum has failed to unearth commercial volumes of oil at its latest exploration well in the Gulf of Thailand.
According to Tap Oil, a partner in the project, the Sri Trang-1 exploration well was spudded on May 17, in 40 meters of water, using the Atwood Orca jack-up drilling rig.
Tap says that the test results confirmed the presence of oil in poor quality reservoir sand. The samples collected from three other zones confirmed the presence of water, Tap said.
“Although the oil is not in commercial quantities, the Sri Trang-1 discovery has validated the hydrocarbon prospectivity of the Northern Kra Basin,” Tap Oil said on Thursday.
The Sri Trang-1 exploration well is located in the Reservation Area of the G1/48 concession in the Gulf of Thailand approximately 18 kilometres north-northeast of the Manora oil development. Mubadala Petroleum is the operator of G1/48.