PTTEP Discovers New Gas Zone in Abu Dhabi Offshore 2 Project

PTT Exploration and Production Public Company Limited (SET: PTTEP) has announced that PTTEP MENA Limited (PTTEP MENA), a wholly-owned subsidiary of PTTEP, and Eni Abu Dhabi B.V. (Eni), the partner, has successfully made another significant gas discovery, in a deeper zone, of the first exploration well XF-002 in Abu Dhabi Offshore 2 Project, located in the north-west of Abu Dhabi, United Arab Emirates.

The XF-002 exploration well was successfully drilled and discovered significant raw gas in place for both shallow and deep targets, totaling approximately 2.5-3.5 trillion cubic feet (TCF). The gas-bearing reservoirs were tested with excellent flow rates and fast-track development options are currently under evaluation. The Project will continue drilling nearby prospects to further evaluate the potential of the block.

Abu Dhabi Offshore 2 Project is located approximately 30 kilometres off the coast of Abu Dhabi covering an area of approximately 4,033 square kilometres. PTTEP MENA holds a 30 percent participating interest while Eni is the operator with a 70 percent participating interest.