Valeura wraps up Thailand drilling campaign

Canadian independent Valeura Energy has successfully completed an infill drilling campaign at its Nong Yao oilfield offshore Thailand.

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

Meanwhile, 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 exceeded expectations, with the well confirming approximately 50 feet of new net oil pay over several intervals. Valeura said it anticipates this will give rise to between two and four additional development targets, which will form the basis of a future infill drilling campaign.

“I am pleased to see continuing success at the Nong Yao field. 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,” said Sean Guest, Valeura chief executive.

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

The drilling rig has been mobilised to Valeura’ Wassana oilfield — also in the Gulf of Thailand, offshore Thailand — where it is now on location and being positioned to commence drilling a programme of three production-oriented development wells. Following that campaign, the rig will return to Nong Yao in the first quarter of 2024 to begin the Nong Yao C development.

Valeura earlier this month restarted production at the shut-in Wassana field offshore Thailand, where the company is eying the final investment decision to expand the asset.

The operator is working towards a potential longer-term redevelopment of Wassana to commercialise the two appraisal discoveries it made in the third quarter of 2023 by adding reserves and expanding the overall capacity of the field. Concept selection work is progressing, and the operator anticipates taking FID on the expansion next year.