Production

Wassana oil field back in production offshore Thailand

April 28, 2023

Valeura Energy has restarted oil production from the Wassana Field in the Gulf of Thailand.

Offshore staff

CALGARY, Canada — Valeura Energy has restarted oil production from the Wassana Field in the Gulf of Thailand.

Today crude oil was introduced into the field’s processing facilities for the first time in nearly three years, when production was shut down by KrisEnergy. With further wells activated since, rates have started ramping up, and an infill drilling campaign should get underway during the third quarter, targeting additional production of about 5,000 bbl/d.

Palang Sophon has agreed to transfer its 11% in the surrounding license G10/48, making Valeura the 100% owner/operator.

At the same time, Valeura has agreed to divest its interest in the Rossukon license G6/48 in the same region, which it acquired last year as part of a package (including Wassana), to partner Northern Gulf Petroleum.

Valeura took this decision in due to the tight project schedule and capital requirement of about $100 million for the Rossukon oilfield development.

In the Wassana oil field, Valeura has an 89% operated working interest (partner Palang Sophon). The company is targeting reactivation at 3,000 bbl/d medium, sweet crude.

Earlier this month, Valeura Energy was addressing damage to moorings serving the Wassana oilfield redevelopment in the Gulf of Thailand. Following a charter agreement, the third-party operated oil storage vessel MT Jaka Tarub mobilized to the field late last month. During startup preparations, the vessel impacted the field’s catenary anchor leg mooring (CALM) buoy, damaging certain offloading components. No personnel were injured; production had not yet started, and there was no discharge of fluids.

04.28.2023