In Asia-Pacific, the fall in crude prices amid the Covid-19 pandemic is threatening operations at small oilfields, resulting in output suspensions and job cuts. Because of "many uncertainties ahead", Thailand's Wassana field has halted production. As a result of the production halt, KrisEnergy has reduced its workforce by 25 percent in Thailand.
At the Wassana field in Thailand, production averaged 3,600 b/d in Q1 2020. The company's working interest production was 3,200 b/d. Although small volumes are exported, the output from the field is mainly used domestically.
Operations will continue as usual at KrisEnergy's other producing assets — the onshore Bangora gas field at block 9 in Bangladesh and the B8/32 oil and gas fields in the Gulf of Thailand.
Persistently lower crude prices have also affected operations at the offshore Galoc oil field in the Philippines' northeast Palawan region, which is operated by joint-venture firm Galoc Production (GPC). The joint-venture partners, Philippine firms Oriental Petroleum and Minerals and The Philodrill, will halt operations on 23 September after the provider of the field's floating production, storage and offloading (FPSO) vessel Rubicon Offshore International terminates services.
