Valeura Energy takes FID on offshore Thailand field redevelopment

•      Valeura Energy has FID on redevelopment of Wassana field offshore Gulf of Thailand.
• Wassana proved plus probable (2P) reserves will increase to 20.5 million bbl with redevelopment.

Valeura Energy Inc. has taken final investment decision (FID) on redevelopment of Wassana field in License G10/48 offshore Gulf of Thailand.

Current production from the Wassana field is via a Mobile Offshore Production Unit (MOPU) that is constrained by an end-of-life expected at end 2027. Given this limited life, it is only possible to recover about 2.5 million bbl of oil with the current production infrastructure. The infrastructure also is limited in the number of future development wells that could be drilled and has insufficient oil and fluid processing capacity to recover the expected reserves and resources of oil in the G10/48 license.

Redevelopment of the field will be through a new-build central processing platform (CPP) replacing the MOPU with 24 production well-slots. First oil is expected in second-quarter 2027 with peak field production of 10,000 b/d which is more than 2.7 times the current output from the field.

With redevelopment, Wassana proved plus probable (2P) reserves increase to 20.5 million bbl, representing an increment of about 18 million bbl compared with continuing production from the existing infrastructure. The redevelopment extends end-of-field life an additional 16 years to 2043.

Valeura is operator at the G10/48 license with 100% interest.