Valeura Energy expects to mobilize a new mobile offshore production unit later this year to the Nong Yao oil field in the Gulf of Thailand, with development drilling starting soon afterward.
Installation has started of a new 3-km subsea pipeline that will connect the Nong Yao C system to the field’s existing production facilities.
Output from the field in license G11/48 rose recently following drilling of two horizontal infill wells, and the company plans further infill drilling to boost production and minimize the effect of natural declines.
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.
