PTTEP announces significant gas discovery from its first exploration well in UAE
PTTEP MENA Limited together with Eni Abu Dhabi B.V. announce another significant gas discovery in Abu Dhabi Offshore Block 2, paving the way to establishing a strong presence in the United Arab Emirates (UAE).
Montri Rawanchaikul, Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), disclosed that Eni Abu Dhabi B.V., the operator, and PTTEP MENA Limited, PTTEP’s subsidiary as the partner, have made another significant gas discovery, in a deeper zone, of the first exploration well XF-002 in Abu Dhabi Offshore Block 2.
The gas-bearing reservoirs were tested with excellent flow rates, and fast-track development options are currently under evaluation. After this well, PTTEP and Eni will continue drilling nearby prospects to further evaluate potential of the block.
“We are delighted to announce another gas discovery in the UAE, which is one of the major discoveries that we have made in the most recent years. The combined preliminary estimated raw gas in place from the February 2022 discovery, at a shallower depth and this new discovery is 2.5 - 3.5 trillion cubic feet (TCF). We are eager to push forward the development program of the project and we believe the consortium can assemble capability, experience, and technology to accelerate field development and production to support the UAE’s gas self-sufficiency mission” said PTTEP’s CEO.
Abu Dhabi Offshore Block 2, located in the northwest of Abu Dhabi, covers an area of 4,033 square kilometres.
PTTEP and Eni were awarded Offshore Block 2 in 2019 from the Abu Dhabi National Oil Company (ADNOC) following its first-ever open block licensing round to maximize value from substantial hydrocarbon resources to increase petroleum output of the UAE. Eni Abu Dhabi B.V. is the operator of the project with 70% participating interest. PTTEP MENA Limited holds the remaining 30%.
In partnership with Eni, PTTEP presently invests in 4 projects in the UAE, namely Abu Dhabi Offshore 1, Abu Dhabi Offshore 2, Abu Dhabi Offshore 3 and Sharjah Onshore Area C. These are all under exploration phase.