Canadian independent Valeura Energy has boosted its Thai upstream portfolio with the acquisition of stakes in four producing oilfields from UAE’s Mubadala Petroleum.
Valeura on Wednesday confirmed it had completed the “transformative” acquisition of the Gulf of Thailand assets — a deal was agreed late last year.
Through its wholly-owned subsidiary, Valeura Energy Asia, the Canadian player now has a 100% operated interest in Block B5/27 that is home to the Jasmine and Ban Yen oilfields.
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.