Canada-based Valeura Energy has extended a charter contract for the floating production storage and offloading vessel operating in the Jasmine oil field in Thailand for five years.
A contract for the provision of operating and maintenance services for the vessel has also been extended until the end of 2028.
The company is currently conducting around $9m in capital projects to refurbish the FPSO, aimed at ensuring its ongoing reliability and extending the vessel’s class certification.
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.