Valeura Energy said modification work has been completed on the MT Jaka Tarub crude oil storage vessel. The vessel is now compatible with infrastructure serving the Wassana oil field in the Gulf of Thailand and is ready for tandem crude oil loading/offloading.
Pending good metocean conditions, it will sail shortly to the field followed by a restart of production operations.
Valeura Energy, Wassana’s new operator, is targeting initial rates of up to 3,000 bbl/d, net to the 89% interest held by its subsidiary company Valeura Energy Asia.
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.