Horizon Oil Says Thailand JV Reaches Final Investment Decision on Booster Compressor Project

MT Newswires Live

01/13

Horizon Oil (ASX:HZN) said the Nam Phong joint venture reached a final investment decision on the Nam Phong booster compressor project in Thailand, according to a Tuesday filing with the Australian bourse.

The project will involve the installation of a refurbished gas engine-driven compressor, which is expected to increase field output by at least 40% once it becomes operational in the middle of the year, according to the filing.

MH Energy Thailand, which is 75% owned by the company, holds an 80% interest in Nam Phong, per the filing.

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