Valeura Energy resumes oil production at Wassana Field in Gulf of Thailand
(WO) 鈥听Valeura Energy Inc., the upstream oil and gas company with assets in the Gulf of Thailand and the Thrace Basin of Turkey, has announced the re-start of oil production at the Wassana field, offshore Gulf of Thailand.
Production resumed safely on December 8, 2023.听In the coming days, Valeura intends to mobilize its contracted drilling rig to the field, and once in position, further wells will be brought online to ramp up production volumes.听The company plans to conduct an infill drilling program comprised of three production-oriented horizontal development wells targeting deeper reservoir intervals within the field.
Sean Guest, President and CEO of Valeura commented:
鈥淚 am pleased to see production operations resume at the Wassana field.听The immediate contribution of production is a welcome addition to our portfolio, and moreover, with all aspects of the field now being conducted in accordance with our high standards for operational excellence, we are turning our attention immediately to growth.听We have a brief window of opportunity in our overall drilling sequence plan to drill three wells at Wassana commencing later this month, which we anticipate will increase production capacity to over 4,000 bbl/d, before re-deploying the rig to our Nong Yao C development early in 2024.听
Our team is also working toward a potential longer-term re-development of the Wassana field, to commercialize the two appraisal discoveries we made in 3Q 2023 by adding reserves and expanding the overall capacity of the field.听Concept selection work is progressing with excitement as we begin to re-frame the Wassana asset as a meaningful source of organic growth within our portfolio.听We anticipate taking a final decision on the expansion in 2024.鈥
The Wassana field鈥檚 oil storage and offloading vessel, the听MT Jaka Tarub听remains owned by the Buana Lintas Lautan Group and is chartered by Valeura to store crude oil produced from the field.听Three60 Energy Group, an independent energy service company offering complete asset life cycle expertise covering various facets of the global upstream industry, has been appointed to operate the听MT Jaka Tarub听vessel for the remaining duration of its charter.