Valeura Energy completes modification of MT Jaka Tarub vessel

Oil and gas company Valeura Energy said Monday that modifications to the MT Jaka Tarub crude oil storage vessel were complete, making the vessel compatible with infrastructure at its Wassana oil field, offshore Thailand.

According to Valeura Energy, the vessel is capable of tandem crude oil loading/offloading.  

“Subject to favorable metocean conditions, the vessel will arrive at the Wassana field in the coming days, after which Valeura intends to resume oil production operations, targeting initial rates of up to 3,000 bbls/d, net to the 89% working interest share held by its subsidiary company Valeura Energy Asia Pte. Ltd.” the company said.

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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