Valeura Energy has extended two contracts for the Jasmine oil field in the Gulf of Thailand.
The charter of the FPSO and the contract for provision of operating and maintenance services for the vessel will now run a further five years until the end of 2028.
In addition, the company is allocating about $9 million in capital projects to refurbish the FPSO to ensure continued reliability to extend the vessel’s class certification.
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.