Canada-based oil and gas company Valeura Energy has inked a deal for a floating, storage and offloading (FSO) vessel, which will be deployed on its oil field project in the Gulf of Thailand. Thanks to this, the restart of production from the field is now slated for the first quarter of 2023.
Valeura Energy revealed that it has entered into a Letter of Award (LOA) with PT Buana Lingas Lautan (Buana) for the charter of the MT Vula tanker, which will be used as an FSO vessel for the production from the Wassana oil field.
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.