Valeura extends FPSO charter and maintenance services contract for Jasmine oil field

Valeura Energy signed two key contracts relating to its Jasmine oil field offshore Thailand. Namely, Valeura’s charter of the field’s FPF-003 floating production storage and offloading vessel, and a contract for provision of operating and maintenance services for the vessel, have been extended by five years until the end of 2028.

 Sean Guest, President and CEO said: “I am pleased to announce these developments, which further illustrate the potential to continue deriving value from the Jasmine oil field.  As announced on May 17, 2023, the Jasmine field has produced 90 million bbls cumulative, greatly exceeding the expectations set at its original development sanction in 2004 of approximately seven million bbls.”

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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