Valeura Energy has announced the commencement of oil production from its Nong Yao C development in Licence G11/48, located in the Gulf of Thailand.
The Canadian public company holds a 90% operated working interest in the licence. The remaining 10% interest is held by Palang Sophon.
Valeura Energy focuses on the exploration, development, and production of petroleum and natural gas in Thailand and Türkiye.
According to the company, the first three of the seven planned Nong Yao C development wells have been brought online. Additional wells are scheduled to be introduced progressively.
The company aims to increase production volumes to approximately 11,000 barrels per day (bbls/d) in the coming weeks, up from recent production rates of around 7,200bbls/d. Valeura Energy intends to sustain this target production rate for the remainder of 2024.
The development of the Nong Yao field includes wells drilled from two wellhead platforms connected to a leased floating storage and offloading vessel.
Additionally, a project is underway to develop a southern extension of the field, known as the Nong Yao C accumulation. This involves drilling additional wells from a new mobile offshore production unit, with the goal of maintaining production at 11,000bbls/d.
The company has also identified several small oil accumulations on the block, which will be evaluated for potential future development.
Valeura Energy president and CEO Sean Guest said: “We have executed an efficient drilling programme, which came in below budget and has achieved all of our geologic objectives, which we will now benefit from as we shore up the Company’s total production output with this new production.
“Moreover, our drilling programme has successfully appraised several upside targets, which we expect will both contribute to reserves and resources when evaluated at year end, and may form the basis of future infill drilling to sustain volumes further into the future.”
In April 2024, Valeura Energy reported three new oil discoveries in the offshore Gulf of Thailand, namely Nong Yao D, Niramai, and Wassana North.
The Nong Yao-13 well in G11/48 concession, where the firm has a 90% working interest, was drilled to 5,399ft measured depth (MD). It encountered just over 30ft of new oil pay across multiple intervals.
Two wells were drilled north of the Wassana oil field in the fully-owned G10/48 concession by Valeura Energy to assess oil volumes in this northern area of the block for potential future development.
The Niramai-4 well, drilled approximately 1km north-east of the Niramai-1 oil discovery, reached 7,312ft MD and discovered over 90ft of new oil pay across two key reservoirs.
