Valeura Energy has received notice of the recertification of its Ingenium mobile production unit, allowing use of the platform to produce and process crude from the Wassana Field in license G10/48 in the Gulf of Thailand.
The MT Jaka Tarub crude storage vessel is undergoing modifications in dry dock that should be completed in early February, allowing the vessel to mobilize to the Wassana location.
Once in place, Valeura plans to resume production operations, targeting initial rates of up to 3,000 bbl/d and subsequently 4,500 bbl/d, following a five-well infill drilling campaign due to start in the second quarter.
Valeura Energy Inc (LON:VLU) 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.