Greater Bualuang refers to our acreage position in the Gulf of Thailand. This consists of the Bualuang oil field and the G4/50 exploration concession.
The Bualuang oil field is the Group’s flagship production asset and has been on-stream since 2008. When Salamander took over the development of the field it was thought to contain c. 14 MMbo of 2P reserves and have a productive life of approximately five years. However, the field has undergone six reserve upgrades and it is now expected to ultimately recover c. 75 MMbo and be producing well into the next decade.
Between 2008 and 2012 daily production averaged between 7,000 and 8,000 bopd. Following investment in an additional wellhead platform that was installed in 2012, the Atwood Mako rig was taken on long term contract and following a period of sustained development drilling in 2013 production increased 71% to average 12,300 bopd. Further development drilling is planned during 2014 and production is expected to average between 11,000 and 14,000 bopd.
Block G4/50 covers 2,900 sq km surrounding the Bualuang production licence and contains five sub-basins. Over 60 leads and prospects have been matured and exploration drilling commenced in 2H 2013, with the Surin oil discovery, and is expected to continue in 2014.