Valeura Energy Inc. discovered a new field near Manora oil field in Block G1/48 and completed a development and appraisal drilling campaign on its Jasmine field in Block B5/27, Gulf of Thailand.

Discovery

Suraphi field was discovered by drilling the Manora-9 open water exploration well and associated sidetracks, about 4.5 km northeast of its Manora A platform. Several prospects were targeted, each within a distinct fault block. The E prospect identified several oil-bearing sandstone intervals within the 600-series lacustrine sands, and intersected oil over a gross column measuring 626 ft (162 ft net oil pay).

The D prospect encountered a similar oil-bearing reservoir section in the adjacent fault block, within a gross column measuring 849 ft (172 ft net oil pay). A third sidetrack tested a shallower and riskier play which was not hydrocarbon-bearing. Success in the D and E fault blocks, however, has effectively de-risked a third adjacent fault block (F), which is well-imaged on 3D seismic.

Based on the company’s mapping, as calibrated by pressure data collected during drilling, there is evidence to suggest that all three fault blocks could be filled to their spill point, thereby constituting a ‘best case scenario’ discovery within these prospects. Valeura estimates that even when measured more conservatively, by only considering the deepest oil demonstrated in the wells, the discovery would likely still justify a satellite development on the block.

Valeura believes an additional satellite platform to develop Suraphi field also creates an opportunity to develop the otherwise-stranded Malida field, 3.5 km to the east. In addition, as this oil discovery has encountered a thicker than expected reservoir interval and has demonstrated oil migration into the area, it derisks a number of nearby exploration prospects, thereby adding to the total potential magnitude of this discovery.

This derisking is consistent with the characteristics of the company’s other fields in the Gulf of Thailand, all which have exceeded their original oil recovery expectations through ongoing exploration, appraisal, and development, the company said. In addition, by creating a satellite facility tied into the Manora wellhead and processing platform, Valeura anticipates an extension to the productive life of Manora field, thereby adding tail oil production which would otherwise be considered uneconomic and not produced.

Valeura is moving immediately into a development planning phase, to establish a plan to maximize the value of the discovery, and to provide scope for future development in the vicinity. Concurrently, it will conduct studies to plan for appraisal of Malida field and to re-evaluate the nearby exploration prospects for inclusion in future drilling campaigns.

Jasmine field

Prior to drilling the Manora-9 well, Valeura completed a successful development and appraisal drilling campaign on Jasmine field. A total of four successful wellbores were completed, two on the Jasmine-C platform and two on Jasmine-D including two horizontal development wells and two dual-objective deviated wells drilled for both development and appraisal targets. Both multi-objective wells successfully appraised several new zones, which will now be studied as potential future development candidates.

As a result of this drilling campaign, oil production increased, offsetting the near-term impact of natural production declines. Oil production increased to about 8,250 b/d after bringing all wells onstream from about 7,570 b/d.

The company intends to resume Gulf of Thailand drilling operations in early November 2026, when it begins its charter of the Shelf Drilling Enterprise rig to conduct a drilling program on Nong Yao field (Block G11/48, operated, 90%), followed by development drilling on Wassana field (Block G10/48, 100%).

Valeura is operator of Block G1/48 with 70% operated working interest and operator of Block B5/27 with 100% operated interest.