Valeura, PTTEP advance multi-asset development and drilling plans offshore Thailand

Valeura Energy and Thai state company PTTEP are progressing plans to develop gas discoveries in the Bussabong area of the G3/65 block in the Gulf of Thailand, according to Valeura's recent quarterly report.

Pending Ministerial clearance, Valeura is taking a 40% non-operated interest in this block and G1/65.

During the first quarter, Thailand’s regulator approved Bussabong as a production area. Valeura expects readiness for a final investment decision (FID) in the third quarter on two new gas production platforms.

Bussabong development moves toward FID

The focus is on advancing fast-track development opportunities using production infrastructure in adjacent blocks currently operated by both companies.

Work on processing new 3D seismic acquired over the blocks remains on scheduled, with the processed data to be used to define prospects in key focus areas. Results will be integrated with historic well data to firm up the most promising candidates for exploration drilling, which should start early next year.

Seismic and drilling plans shape exploration pipeline

Elsewhere in the Gulf of Thailand, Valeura has kicked off a new drilling campaign on the Nong Yao Field (G11/48 license), which will continue into June, covering production-oriented development targets and appraisal opportunities. 

It has also identified further drilling potential close to the Nong Yao A platform and has decided to add four additional well slots at the platform to speed up possible future development. The new slots should be ready for drilling in the fourth quarter.

Nong Yao expansion and satellite concepts advance

For offshore license G10/48, Valeura has commissioned engineering studies concerning optimized designs for satellite platforms that could be tied back to existing central production platforms (CPPs).

Construction work on the CPP remains on budget, the company reported, and it continues to progress slightly ahead of schedule, with overall project completion currently above 65%. 

Valeura expects that the CPP will be ready for installation in the fourth quarter. The project is scheduled to achieve first oil production in second-quarter 2027.

There appears to be enough oil at a location north of the Wassana Field to warrant a satellite platform.

There are further plans for exploration drilling south of Wassana in an area that may hold more potential than the northern satellite. 

Finally, the company plans an exploration well in the third quarter on a potential accumulation in offshore license G1/48. If successful, it could be developed via a tie-in to the Manora platform.

The Manora Field is in licence G1/48. Valeura holds a 70% operated working interest.