PTTEP and Chevron to tender 25 wellhead platforms
The Thai national oil company (NOC) PTT Exploration and Production plc (PTTEP) and its partners, the California-based Chevron and the Japanese Mitsui Oil Exploration Corporation (Mitsui or MOECO) are preparing the call for tender for twenty five wellhead platforms for the expansion of the Bongkot and Arthit gas field in the new context of its “Save to be safe” program.
In Arthit, PTTEP is sharing the working interests such as:
– PTTEP 80% is the operator
– Chevron 16%
– MOECO 4%
Lying in the middle of Gulf of Thailand, Arthit and Bongkot stand in shallow water of the continental shelf 230 kilometers from Thailand Songkhla Province coastline.
PTTEP doubles number of bundled platforms in Arthit
PTTEP presented with its third quarter 2014 results its “Save to be safe” program to rethink all projects through cost optimization.
Each platform should weight approximately 12,000 tonnes including the topsides.
In order to reduce costs and eliminate redundant work PTTEP, Chevron and MOECO have decided to award the 12+ 13 wellheads platforms to the same engineering, procurement and construction (EPC) contractor.
Arthit and Bongkot wellhead bundled platforms will be the first project awarded according to PTTEP “Save to be safe” program.
A year ago, PTTEP had planned to tender a series of 7+4 wellhead platforms, in the new context of the costs cutting program “Save to be safe”, the tender has been extended to 12 +13 units for Arthit and Bongkot expansion project.
This Arthit bundled platforms strategy should help PTTEP to maintain its five years investment plan 2015 – 2019 nearly at the same level (-0.5%) as the previous period 2014 – 2018.