Valeura Produces First Oil at Nong Yao C Development

Valeura Energy Inc. has put onstream the Nong Yao C development in License G11/48, offshore Gulf of Thailand. The company holds a 90 percent operated working interest in the license.

The company said in a statement that the first three of the seven Nong Yao C development wells were opened up for oil production on August 15, 2024, with additional wells to be brought online successively thereafter.

“I am very pleased to see first production from Valeura’s first organic growth project in the Gulf of Thailand.  We have executed an efficient drilling program, 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”, said Sean Guest, President and CEO of Valeura Energy.

The company plans to continue increasing production volumes to reach peak production rates of around 11,000 barrels per day (bpd) in the next few weeks. This is an increase from the recent rates of approximately 7,200 bpd in the first half of August. Valeura aims to maintain Nong Yao production rates at around 11,000 bpd for the rest of 2024.

“Moreover, our drilling program 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”, Guest said.

The first oil at the Nong Yao follows a recent restart of production operations at the Wassana field, offshore Gulf of Thailand. In June, the company suspended oil production at the Wassana field following an anomaly identified on one of the steel jack-up legs of the field’s mobile offshore production unit. Production restarted following inspection, with the company expecting to achieve pre-suspension oil production rates of approximately 5,000 bpd within the week.

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