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Valeura Energy Inc. Announces Nong Yao Infrastructure & Wassana Drilling Update
Nong Yao Infrastructure and Wassana Drilling Update CALGARY, AB / ACCESSWIRE / February 13, 2...
About this update from Valeura Energy Inc.
[{"type":"text","content":"Valeura Energy Inc. Announces Nong Yao Infrastructure & Wassana Drilling UpdateNong Yao Infrastructure and Wassana Drilling UpdateCALGARY, AB / ACCESSWIRE / February 13, 2024 / Valeura Energy Inc. (TSX:VLE)(OTCQX:VLERF) (\"Valeura\" or the \"Company\"), the upstream oil and gas company with assets in the Gulf of Thailand and the Thrace Basin of Turkey, is pleased to announce the mobilisation of a Mobile Offshore Production Unit (\"MOPU\"), destined for its Nong Yao field, and to provide an update on development drilling at the Wassana field, offshore Thailand. HighlightsMOPU TSeven Shirley being mobilised to the Nong Yao field (90% working interest), in preparation for development of the Nong Yao C accumulation, first oil expected late Q2 2024;Valeura purchasing the Nong Yao field's floating storage and offloading vessel (\"FSO\") Aurora for US$19 million, providing greater operational flexibility and cost optimisation; andWassana field (100% working interest) development drilling programme being expanded to five horizontal wells, first two wells have resulted in field output increasing to more than 4,000 bbls/d.Nong Yao InfrastructureThe MOPU TSeven Shirley has departed its shipyard at Qing Dao, China and is now enroute to Valeura's Nong Yao field (90% working interest) in the Gulf of Thailand. Upon arrival, the MOPU will be connected to the pipeline that has been already installed from the existing Nong Yao field infrastructure, and will serve as the wellhead production platform for the Company's Nong Yao C field development. Following hook-up and commissioning work, Valeura intends to conduct an initial drilling programme of up to nine development wells (six producers and three water injectors). First production from the Nong Yao C extension is expected in late Q2 2024, and when fully on stream in the months thereafter, the Company is targeting peak production rates from the greater Nong Yao field totalling approximately 11,000 bbls/d (90% working interest share).The TSeven Shirley is a new-build MOPU, based on a jack-up drilling rig hull, and customised to suit the requirements of the Nong Yao C accumulation. The MOPU includes a 12 slot well bay, total design fluid capacity of 20,000 bbls/d and water injection design capacity of 10,000 bbl/d. Valeura has agreed to charter the MOPU for an initial term of five years, with prov...