Tap Oil gets boost from Thai start-up

Tap Oil has rejoined the ranks of oil producers with the start-up of the $US300 million Manora project in the Gulf of Thailand, ending a two-year period where it was reliant on sales of third party oil and gas for revenues.

Manora is set to produce 15,000 barrels a day of oil at peak production, expected in the March quarter of 2015, giving Tap a share of 4500 barrels a day. The venture, led by Abu Dhabi’s Mubadala Petroleum, is expected to produce for at least 11 years.