Valeura outlines goals of year-long drilling campaign offshore Thailand
Valeura Energy has budgeted 2025 capex in the range of $125 million to 150 million for its global E&P programs, plus about $11 million for exploration drilling.
Close to 85% of the expenditure will be directed toward drilling, with one drilling rig on contract offshore Thailand throughout the year. Remaining capex will be allocated to brownfield developments in the region.
In an operations update, the company noted that the Nong Yao field in license G11/48 in the Gulf of Thailand is now its largest producer, accounting for about 40% of its anticipated production this year.
Valeura plans to drill 11 development and appraisal wells here, including new targets drilled from the producing Nong Yao A, B and C facilities.
The wells should lead to a more thorough sweep of incremental oil from producing reservoirs, and it will also access fault blocks and reservoir layers not currently penetrated by the existing producer wells.
Following last year’s discovery in the Nong Yao D area, new seismic interpretation has identified further exploration opportunities in the area, which could be included in a future drilling campaign. The company aims to prove up sufficient volumes for a future development.
On license B5/27, containing the Jasmine field, this year’s line-up comprises 13 new development and appraisal wells from the Jasmine C and D and Ban Yen production facilities. The primary goal will be to drill new horizontal laterals into producing reservoirs to optimize the sweep of oil and prove up fresh reserves.
Around the end of the first quarter, the company expects to commission a low BTU gas generator, which will redirect a waste gas stream for use in power generation. This should reduce Jasmine’s emissions intensity and its reliance on diesel-fired power generation.
Another exploration prospect under review is Ratree, which is to the south on license B5/27. Success here could unlock the path toward a new field development.
At the Manora field in license G1/48 (Valeura 70%), production should rise following completion of a current five-well infill drilling program, including development and appraisal targets.
Although no new drilling activity is planned this year on the Wassana field in license G10/48, FEED studies continue for a potential redevelopment to commercialize oil volumes discovered through appraisal and exploration drilling in 2023 and 2024. FID approval readiness should occur early in the third quarter.
