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Valeura Energy Inc. Announces Wassana Oil Storage Vessel
CALGARY, AB / ACCESSWIRE / November 30, 2022 / Valeura Energy Inc. (TSX:VLE) ("Valeura" or the "...
About this update from Valeura Energy Inc.
[{"type":"text","content":"Valeura Energy Inc. Announces Wassana Oil Storage VesselCALGARY, AB / ACCESSWIRE / November 30, 2022 / Valeura Energy Inc. (TSX:VLE) (\"Valeura\" or the \"Company\"), the upstream oil and gas company with assets offshore Gulf of Thailand and the Thrace Basin of Turkey is pleased to announce that it has entered into a definitive agreement with PT Samudra Alam Transport, a subsidiary of PT Buana Lintas Lautan Tbk, to charter a crude oil tanker to store oil produced from the Wassana oil field, offshore Gulf of Thailand, as previously announced on November 11, 2022. The vessel is expected to be renamed MT Jaka Tarub (previously MT Vula).The MT Jaka Tarub is a Panamax sized oil tanker, with storage capacity of 460,000 bbls. Following cleaning and modification work scheduled for December 2022, the vessel will be made compatible with the Wassana field's mooring and crude oil offloading systems.Pending customs clearance, the MT Jaka Tarub is expected to arrive at the field in early January 2023. Valeura intends to resume production operations as soon as practicable thereafter, targeting initial oil production rates of up to 3,000 bbls/d, net to the 89% working interest held by its special purpose vehicle subsidiary, Valeura Energy Asia Pte. Ltd.For further information, please contact:Valeura Energy Inc. (General Corporate Enquiries) +1 403 237 7102Sean Guest, President and CEOHeather Campbell, [email protected] Energy Inc. (Capital Markets / Investor Enquiries) +1 403 975 6752Robin James Martin, Investor Relations Manager +44 7392 [email protected] Advisors LLP (Corporate Broker to Valeura) +44 (0) 7711 627 449Jonathan [email protected] (Public Relations, Media Adviser to Valeura) +44 (0) 20 3757 4980Owen Roberts, Billy [email protected] the CompanyValeura Energy Inc. is a Canada-based public company engaged in the exploration, development and production of petroleum and natural gas in Thailand and in Turkey, and is pursuing further inorganic growth in Southeast Asia.Advisory and Caution Regarding Forward-Looking InformationCertain information included in this news release constitutes forward-looking information under applicable securities legislation. Such forward-looking information is for the purpose of explaining management's current expectations and plans relati...