Valeura Energy has detailed its offshore project updates in its latest results report.
B5/27 Block – Jasmine/Ban Yen Oil Field
Later this quarter, Valeura Energy will mobilise a workover rig to the B5/27 Block, which includes the Jasmine/Ban Yen oil field. This will be followed by a drilling campaign later in the year, comprising five infill wells.
Nong Yao Field – License G11/48
At the Nong Yao Field, a rig alongside the Nong Yao A facility is nearing the completion of two newly drilled development wells, which are expected to boost production.
In preparation for developing the Nong Yao C accumulation, the T7 Shirley MOPU has been secured to the seafloor and has installed all conductors for the production wells. Additionally, the production risers have been connected to the subsea pipeline. This drilling should result in first oil during the third quarter.
Wassana Field – License G10/48
A five-well horizontal drilling program at the Wassana Field has concluded successfully, with all wells meeting expectations. Production has since increased, averaging 4.9 MMbbl/d. Valeura plans to take a Final Investment Decision (FID) on a new project to redevelop Wassana around the end of the year.
Manora Field – License G1/48
At the Manora Field, a workover rig has completed two well workovers aimed at offsetting production declines. A new drilling campaign on Manora is anticipated to commence either late this year or early in 2025.
Valeura Energy Inc (TSX:VLE) is an upstream oil & gas company, with a clear strategy to add value for shareholders. The Company has a strong balance sheet positioning it for potential inorganic growth opportunities in the near/medium-term, and substantial longer-term upside potential through an operated deep, tight gas play.
