Abstract
In the Far East during 1975 more than 300 exploratory wells were drilled with Indonesia accounting for 63% of the drilling activity. Production of 1,818,600 BOPD was reported excluding an estimated 1,000,000 BOPD reportedly produced in the People’s Republic of China. The 1975 production is a 5% increase over the 1,739,230 BOPD reported in 1974. Indonesia accounted for 72% of the production. Natural gas production figures are incomplete, but average daily production exceeds 2.8 Bcf.
A total of 41 new fields was discovered, and all but 6 are in Indonesia. South Vietnam had a significant discovery on a newly awarded offshore tract, and Taiwan had its first offshore discovery. Much of the exploratory activity was concentrated in new areas such as Vietnam, Burma, Bangladesh, India, and the west coast of Thailand where contracts first were awarded in 1974. Offshore drilling activities also increased in the Philippines and Taiwan but no discoveries were announced.
South Vietnam and Cambodia fell to Communist forces during the year, and Portuguese Timor also was involved in a civil war. All exploratory rights in those countries will need to be renegotiated with the new governments. The Philippine government issued a decree giving license holders 1 year to convert their holdings into production-sharing contracts. New service contracts were awarded in the Philippines, India, and Afghanistan. Sri Lanka announced tracts to be awarded in early 1976. The new acreage awards guarantee that 1976 will be another active year in the Far East.
