Coastal Energy Company is an international exploration & production company with principal assets in Thailand and Malaysia, which has been merged with Compañía Española de Petróleos, S.A.U. (“CEPSA”).
Coastal Energy owns and operates 100% of Blocks G5/43 and G5/50 in the Gulf of Thailand as well as varying interests onshore northeast Thailand including a 13.7% interest in the Phu Horm gas field. In July 2012, Coastal entered into a Small Field Risk Service Contract with PETRONAS for the development and production of petroleum from the Kapal, Banang and Meranti cluster of small fields offshore Peninsular Malaysia, where it intends to hold a 70% equity interest.
Project Experience Includes:
Coastal’s interests in the Gulf of Thailand comprise 1.22 million acres. The Company achieved first production offshore in November 2008 at the Songkhla field. Today, the Company produces greater than 22,000 bopd from three offshore oil fields and expects substantial near-term increases to this rate upon hookup of previously drilled wells and additional development, appraisal and exploratory drilling. The Company is engaged in a continuous drilling program and owns extensive 2-D and 3-D seismic data throughout the concession.