ASEAN KEY DESTINATIONS
PTTEP resumes oil operation in Australia
PTT Exploration and Production Plc (PTTEP) says it will resume pumping oil at its Montara oilfield off the coast of Australia in the fourth quarter after receiving approval yesterday from the Australian government.
Australian Energy Minister Martin Ferguson said the company had satisfied the government that it had taken steps to prevent a repeat of the 2009 oil spill in the field in the Timor Sea. "The company has cooperated fully throughout the review process and demonstrated significant changes to improve its leadership, governance and operating practices," he said.
However, PTTEP would be subject to a rigorous, 18-month monitoring program to ensure it has fixed the deficiencies found in an investigation into the blowout, the minister added. Anon Sirisaengtaksin, the president and CEO of PTTEP, said the Australian government recognised the company's commitment to high standards of oilfield practice and safety.
"We are very pleased with this announcement and confident of restoring the Australian government's trust in PTTEP Australasia's capability as a prudent operator with international E&P best practices," said Mr Anon.
Construction of the wellhead platform is expected to be completed this month and production would start in the fourth quarter, with the first shipments of crude to Thailand early next year, he said.
The field is expected to produce 35,000 to 40,000 barrels per day.
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