Thai state upstream firm PTTEP has unveiled a planned development timeline for Abu Dhabi’s Offshore 2 exploration block. The block was awarded to Eni (70%) and PTTEP (30%) in January 2019 in Adnoc’s first licensing round, with the Abu Dhabi state firm maintaining the right to take a 60% stake if the partners move into a production phase (MEES, 18 January 2019).
PTTEP’s recently-released 5-year Investment Plan out to 2028 proposes first gas from the asset in the second half of 2025, with targeted production capacity of 300mn cfd. This is in line with the provisional field development plan (FDP) which the partners submitted to the authorities for approval earlier this year. Neither Adnoc nor Eni commented on PTTEP’s stated figures. (CONTINUED - 306 WORDS)
