In line with DIALOG’s strategy to expand and diversify across its business streams, the Group completed the acquisition of Pan Orient Energy Corp. (POEC) in August 2022. POEC through its wholly owned subsidiary holds 50.01% equity interest in Pan Orient Energy (Siam) Ltd. (POES). The remaining 49.99% in POES is held by Sea Oil Energy Ltd.
POES is the concessionaire and operator of concession L53/48, located onshore in Nakhon Pathom and Suphanburi Province, about 100 km northwest of Bangkok, Thailand. It involved seven production areas. The acquisition is the first international DIALOG-operated upstream venture, paving the way for DIALOG to move further up the value chain in the upstream business.
The main activities in L53/48 concession focus on sub-surface evaluation to locate by-passed oil and untested reservoirs, appraisal and infill drilling as well as production enhancement activities to increase the recovery factor. In addition, it is also to evaluate low gravity oil resources for possible enhanced oil recovery to increase the reserve base. The oil from Concession L53/48 is sold to a local refinery.
The long-term strategy is to increase the footprint in Thailand and utilize POES as vehicle to participate in the upcoming onshore bidding round in Thailand.
With almost three decades of experience behind them, DIALOG Offshore Project Implementation (OPI) has been involved in projects ranging from Hook-up & Commissioning (HUC) to other EPCIC scopes.
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