Expected to commence production in the second half of 2015, the development is located in the Gulf of Thailand G10/48 license.
The Wassana development concept includes a mobile offshore production unit (MOPU) and 12 to 14 development wells producing to a floating storage offloading vessel.
The company owns 100% working stake in G10/48, which covers 4,696km² over the southern section of the Pattani Basin in water depths up to 60m.
KrisEnergy exploration and production director Chris Gibson-Robinson said KrisEnergy is making good headway in advancing the Wassana development with the acquisition of operatorship of G10/48 in mid-May.
"The MOPU solution is efficient both in timing and costs, but also provides the flexibility to look at future commercialisation of other discoveries in the G10/48 licence area," Gibson-Robinson added.
"We have also mapped a portfolio of prospects and leads in this block, some of which will provide additional development areas once we have completed further exploration drilling."
The license includes three oil discoveries, Wassana, Niramai and Mayura, in several stages of development or appraisal while the field is likely to reach a peak production of 10,000bpd.
