An offshore platform in the Gulf of Thailand
Valeura pivots to SE Asia
The independent has bought assets in Thailand and is looking at acquisitions elsewhere in the region
Toronto- and London-listed independent Valeura has signed a sales-and-purchase agreement to acquire and operate the Thai assets of Singapore’s bankrupt Krisenergy. The acquisition comprises 89pc of the Wassana field and 43pc of the Rossukon field for $3.1mn, plus contingency payments of up to $7mn and the purchase of an onsite mobile production unit for a further $9.2mn. Valeura intends to reactivate Wassana and reach 3,300bl/d of production by the fourth quarter of this year, while Rossukon is fully appraised but so far undeveloped. Proven and probable reserves at the fields—which are both in shallow waters in the Gulf of Thailand—total around 4mn bl. The remaining shares in Wassana and Ros
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
