SINGAPORE, April 16 (Reuters) - Cambodian offshore oil exploration Block D holds an estimated 227 million barrels of recoverable oil reserves, its Chinese operator said on Monday.
Cambodia hopes to begin pumping oil from offshore fields in the Gulf of Thailand in two years, although it has yet to confirm reserves estimated at 400-700 million barrels in Block A, being explored by U.S. oil major Chevron Corp .
On Monday, China Petrotech Holdings Limited said it had completed a 3-D seismic survey of Block D, data from which received a favourable review by the Exploration and Production Research Institute of CNOOC Bohai Corporation.
That review estimated recoverable reserves of 226.9 million barrels of crude and 496 billion cubic feet of natural gas.
"CPHL Cambodia will draw up an exploration plan over the next few months before it embarks on the first exploration well drilling programme," the Singapore-listed firm said in a statement.
Chevron has drilled at least 13 exploration wells in nearby Block A, but has yet to release any results. It holds 55 percent of the zone, with Japan's Mitsui Oil Exploration Co holding 30 percent and South Korea's LG-Caltex another 15 percent.
Cambodia hopes to begin pumping oil from offshore fields in the Gulf of Thailand in two years, although it has yet to confirm reserves estimated at 400-700 million barrels in Block A, being explored by U.S. oil major Chevron Corp .
On Monday, China Petrotech Holdings Limited said it had completed a 3-D seismic survey of Block D, data from which received a favourable review by the Exploration and Production Research Institute of CNOOC Bohai Corporation.
That review estimated recoverable reserves of 226.9 million barrels of crude and 496 billion cubic feet of natural gas.
"CPHL Cambodia will draw up an exploration plan over the next few months before it embarks on the first exploration well drilling programme," the Singapore-listed firm said in a statement.
Chevron has drilled at least 13 exploration wells in nearby Block A, but has yet to release any results. It holds 55 percent of the zone, with Japan's Mitsui Oil Exploration Co holding 30 percent and South Korea's LG-Caltex another 15 percent.
