Valerua Energy completes oil drilling campaign offshore Thailand

December 26, 2023

(WO) – Canada-based Valeura Energy Inc., an upstream oil and gas company with assets in the Gulf of Thailand and the Thrace basin of Turkey, successfully completed an infill drilling campaign at its Nong Yao oil field (90% operated working interest), offshore Gulf of Thailand.

The company has drilled four wells at the Nong Yao A wellhead processing platform, including three production-oriented development wells and one appraisal well.  The development wells have encountered targets in line with pre-drill expectations and have been brought online as producers. 

The appraisal well was designed to delineate the extent of certain reservoir intervals in the field that are currently not producing.  Results from the appraisal well have exceeded expectations, with the well confirming approximately 50’ of new net oil pay over several intervals.  The company anticipates this will give rise to between two and four additional development targets, which will form the basis of a future infill drilling campaign.

The drilling rig has been mobilized to the Wassana field, where it is currently on location and being positioned to commence drilling a program of three production-oriented development wells.  Thereafter, the rig will return to Nong Yao in Q1 2024 to begin the Nong Yao C development.

Sean Guest, President and CEO of Valeura Energy

Sean Guest, President and CEO of Valeura commented, “This campaign focused on the area first developed at Nong Yao, and illustrates our team’s ability to add volumes through infill drilling and to extend the economic life of our legacy producing assets.     

We are also focused on growth.  Commercialization of the Nong Yao C accumulation remains on track for infrastructure installation and development drilling starting in Q1 2024.”

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