Valeura Energy extends Jasmine FPSO contract

Valeura Energy Inc. has extended two contracts related to its operated Jasmine oil field in the Gulf of Thailand. 

The company has extended the charter of the field’s FPF-003 floating production storage and offloading vessel (FPSO) and let a 5-year contract extension for Petrofac to remain as operating and maintenance services provider for the vessel until end-2028.

The field’s expected asset life has been extended to 2028 from 2016, having now produced over 90 million bbl of crude oil, well over the 7 million bbl expected when development was sanctioned in 2004.

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
Twitter
LinkedIn
Valeura Energy

More articles like this

Valeura Energy

Valeura Energy: Adding Value through Growth

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

Valeura Energy

Valeura resumes drilling at Wassana offshore Thailand

Valeura has issued an update on drilling campaigns at its producing fields in the Gulf of Thailand. Late last year the company completed an infill drilling program on the Jasmine Field followed by infill drilling on Nong Yao. In