Bangkok--1 Feb--PTTEP
PTT Exploration and Production Public Company Limited (PTTEP) today said that Canada Oil Sands KKD Project has started up oil production from its Leismer area. With approved production at 10,000 barrels per day during the first phase, oil production from Leismer is expected to ramp up to its rated capacity of 18,800 barrel per day within 24 months. Apart from Leismer, the project planned to develop the Corner area, which is expected to be on stream with 60,000 barrel-per-day facility.
KKD, a significant oil sands deposit covering an area of 257,200 acres, is located approximately 120 kilometres south of Fort McMurray in Athabasca region, north eastern Alberta, Canada. With an estimated 4.3 billion barrels of recoverable Bitumen resources[1] (independently assessed by a leading external petroleum consultant), KKD has five core areas, namely Leismer, Corner, Thornbury, Hangingstone, and South Leismer. KKD is an IN-SITU oil sands project utilizing Steam Assisted Gravity Drainage (SAGD) technology, well established and proven production technique, with an expected project life of over 40 years.
On November 22, 2010, PTTEP Netherland Holding Limited or PTTEP NL (a subsidiary of PTTEP) has signed the Partnership Unit Sale Agreement with Statoil Canada Ltd. and Statoil Canada Holdings Corp. (the subsidiaries of Statoil ASA or Statoil) to acquire a 40% interest in the oil sands KKD (Kai Kos Dehseh) Project in Canada. After the completion of transaction, Statoil holds a 60% interest in SCP and retain the operatorship of KKD. The transaction was completed with a total consideration of US$ 2,280 million.
The primary product of the KKD oil sands project will be sold to various refineries in the U.S.A. In the long run, additional potential markets for KKD’s heavy oil product is expected to develop in the US Gulf Coast region, and potentially to the Canadian West Coast where heavy oil product could access Asian markets.
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Tongchit Pongorapin Tel. +66 (0) 2537 4587 E-mail:
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Nuanphen Suk-aram Tel. +66 (0) 2537 4476 E-mail:
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