Coastal Energy's current asset base is in Thailand and offshore Malaysia. The Company’s Thai assets comprise two offshore concessions (G5/43 and G5/50 in the Gulf of Thailand) while onshore the Company owns interests in four concessions in the Khorat plateau in the northeastern part of the country. In Malaysia, the company is party to a Risk Service Contract (“RSC”) with PETRONAS to develop the Kapal, Banang and Meranti cluster of small fields (the "KBM Cluster"). .
Offshore Thailand, the Company owns 100% interests in Blocks G5/43 and G5/50. The Company currently has two approved 20-year production licenses on Block G5/43, one for the Songkhla field (granted in 2008) and one for the Bua Ban field (granted in 2009). These two licenses cover 357 square kilometers in the Songkhla basin and encompass the Company’s three currently producing fields - Bua Ban North, Bua Ban Main and Songkhla. In addition to these producing fields, in early 2012 the Company announced oil discoveries in the Bua Ban South field.
Onshore Thailand, Coastal Energy owns working interests in multiple assets through its 39% ownership of APICO, LLC. The Company holds a net 13.7% working interest in the Hess-operated Sinphuhorm gas field located in northeastern Thailand. The field produces over 90 Mmcfpd of natural gas. The gas is sold to PTT under a 15 year gas sales agreement. Coastal also holds working interests in multiple exploration blocks onshore Thailand, all of which are operated by APICO.
In Malaysia, Coastal is party to a Small Field Risk Service Contract ("RSC") with PETRONAS for the development and production of petroleum from the KBM Cluster offshore Peninsular Malaysia. Coastal is the operator of the KBM Cluster fields and intends to hold a 70% equity interest alongside a 30% interest local partner. The KBM Cluster fields are located within 20 kilometers of each other in a water depth of 60 meters. The main oil reservoirs are Miocene aged sandstones ranging in depths from 3,800 feet to 7,800 feet.