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Valeura contracts rig for Wassana Field reactivation offshore Thailand

Valeura Energy is chartering Petrovietnam Drilling and Well Service Corp.’s PV Drilling I jackup for operations in the Gulf of Thailand.

The rig should mobilize to the Wassana oil field in the middle of second-quarter 2023 to start an initial five-well infill drilling program, with an option to extend the workscope to include further drilling operations later in the year.

Valeura acquired an 89% operated interest in June in the surrounding license G10/48, with the remainibg 11% held by Palang Sophon. Wassana is in a water depth of about 48 m in the Pattani Basin.

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. 

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