Thai

Commentary

While the basin remains an attractive destination technically, the combination of mean discovery size and fiscal regime conspires to erode its attractiveness. Nevertheless, government is addressing the key issues, which means that the region could be due a renaissance.

Updated

June 18, 2024

Location

Description

The THIB was formed in the Oligocene period by rifting precipitated by the widespread regional extension, which continued through the late Miocene. Basin fill was initiated with the deposition of lacustrine sands and clays, which in the early Miocene gave way to a more fluvially dominated environment and deposition of sandstones. Thailand's offshore basins are generally gas-prone, with source rocks in Oligocene and lower Miocene dominated organic-rich shales that are mature for gas generation in the deeper parts of the Basin. The northern end of the THIB is shallower and the source rocks have generated the oils, which are found in the Benchamas, Tantawan and Jasmine fields. The prevailing basin temperatures have also resulted in the generation of carbon dioxide from the breakdown of basement carbonates; carbon dioxide is associated with most of Thailand's commercial gas accumulations.

Summary

Exploration and development has been undertaken across the THIB, but it can't be deemed to be widely explored or developed. As such, there remains significant prospectivity and development opportunity, especially for heavier accumulations, where cost control remains the key feature.