KrisEnergy expects to double production

KrisEnergy expects to double production

Singapore: Singapore-based KrisEnergy expects its production to almost double to the equivalent of 15,000 barrels a day in 2015 from the current 8,000 barrels. The company expects that figure to reach 35,000 by 2017 as new fields come online.

"We will continue to grow in 2016 and 2017 and that's with the existing fields that are under development. The next 12-18 months is going to be a big period for KrisEnergy," said Richard Lorentz, executive director of KrisEnergy.

The company has licenses for 19 projects in five Southeast Asian countries, including two offshore wells in Thailand and one onshore well in Bangladesh that are producing. Two more offshore Thai fields are expected to start operations next year. [29/10/14]