165 / 2015-08-31 11:38:49

Evaluation of Small Gas field in Northeastern Thailand for NGV

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The objectives of this research are to 1) compile gas field developments in Northeastern Thailand, 2) assess petroleum potential, 3) determine the reserve and production of small gas fields using reservoir simulation, 4) evaluate economic returns on small gas fields, 5) determine the knowhow to develop small gas field for NGV commercially. The study is based on 80 $/barrel of oil and 8 $/MMBTU of natural gas prices. The assessment indicated the most likely probability to find the small gas field with the reserve of 130 Bcf (billion cu.ft.). The small gas fields become marginal gas fields when the IRR is less than 10%. In the NE Thailand and Thai III, the reserve of marginal gas field is about 100 Bcf. The small gas field starts producing 25 MMscf/day and lasts for 5 years then declines to end at 3 MMSCF/day in the 20th year. The marginal gas fields can be developed commercially (IRR=15-20%) when either reserve or petroleum price increases by 20%. The value added NGV production can be also made the small gas field profitable developed. When the reserve of a small gas field is established, if the investment and operation cost can be cut down by 20% the field become profitable. The innovation of new technology, cost cut down method and efficient operation should promote the petroleum activities and increase indigenous gas NGV supply in the NE.