Mar 13, 2019 (Euclid Infotech Ltd via COMTEX) -- Phongsthorn Thavisin, President and Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP) disclosed that PTTEP Australasia (Ashmore Cartier) Pty Ltd (PTTEP AAA), a wholly owned subsidiary of PTTEP had made a successful discovery of gas and condensate at the Orchid-1, the first exploration well in Permit AC/P54 located in the Timor Sea, Australia.
Commenced in January this year, the drilling of the Orchid-1 was undertaken to a total depth of 2,925 metres. The well encountered gas and condensate with the net pay thickness around 34 metres. The result is in line with PTTEPs expectation and will be incorporated into development planning of Cash-Maple field which contains 3.5 TCF of resources.
AC/P54 is an exploration permit under PTTEP Australasia project which comprises Permits AC/L3, AC/RL4, AC/RL5, AC/RL6, AC/RL7 (Cash-Maple field), AC/RL10, AC/RL12 and AC/P54 in the Timor Sea off northern Western Australia.