Oil field project off Thailand expected back online next year

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. 

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Valeura Energy

More articles like this

Valeura Energy

Valeura Energy “is in a unique position”

Investor Edward Vranic shares why he believes Valeura Energy Inc. is in a unique position and why he thinks investors should take an interest in this energy company. As a small-cap investor, I have been exposed

Valeura Energy

Natural gas jumps 5%

It’s still early to tell, but Wednesday’s 5% rebound in natural gas futures on the New York Mercantile Exchange’s Henry Hub threw a lifeline to those long the market. Natural gas managed to finish 2022 up by 22%

Valeura Energy

Natural gas is critical to a clean energy future

When charting our energy future, it’s critical to consider how past successes can be replicated to help us meet our energy, security, climate, and reliability goals. Natural gas must be part of a low-carbon energy future,

Valeura Energy

Oil prices rise today

Oil prices have risen after major producers agreed to continue to cut output and the G7 and its allies said they will cap the price of Russian oil. Brent crude rose by about 0.6% to above

Valeura Energy

Oil prices rise

Oil prices have risen after a tanker owned by an Israeli billionaire was hit by a drone carrying a bomb off the coast of Oman. The attack on Pacific Zircon, which is owned by Idan Ofer and

Valeura Energy

Valeura Energy retains drilling rig in Thailand

Valeura Energy (VLE) has chartered a jack-up drilling rig to support its Gulf of Thailand operations. The Calgary-based oil and gas company is scheduled to start next year. The PV Drilling I rig is expected to mobilize to

Valeura Energy

Valeura Energy Thailand drilling rig contract

Valeura Energy Inc (TSX:VLE), the upstream oil and gas company with assets offshore Gulf of Thailand and the Thrace Basin of Turkey, has announced that it has agreed with Petrovietnam Drilling and Well Service Corporation to

Valeura Energy

Oil price rise

Oil prices rose more than 1 per cent on Tuesday, after plunging to nine-month lows a day earlier, amid indications that producer alliance OPEC+ may enact output cuts to avoid a further collapse in prices. Brent

Valeura Energy

Oil prices advance

Oil prices rose in volatile trade on Tuesday as worries about tight fuel supplies ahead of winter offset investor concerns about lower demand in China, the world’s biggest crude importer, and further increases in U.S. and

Valeura Energy

Oil prices rise on world markets

Oil prices have increased on the world markets. On London ICE (InterContinental Exchange Futures) cost of the Brent crude oil rose $2.01 to trade at $95.03, while the price of the Light crude oil at the

Valeura Energy

Oil prices climb

Oil prices climbed on Friday on expectations that OPEC+ will discuss output cuts at a meeting on Sept. 5, though concern over China’s COVID-19 curbs and weak global growth continued to limit gains. Brent crude futures

Valeura Energy

Oil climbs as Saudi Arabia warns of OPEC output cuts

Oil rose on Tuesday as renewed concerns over tight supply dominated market sentiment after Saudi Arabia warned that the major oil producer could cut output to correct a recent oil price decline. Brent crude gained 42