Valeura Energy has discovered a new oil field in the Gulf of Thailand near the producing Manora Field.
The Manora-9 exploration well and associated sidetracks encountered oil-bearing sandstone reservoirs in two separate fault blocks within the Suraphi prospect. Valeura reported 162 ft of net oil pay in the E prospect and 172 ft in the adjacent D prospect, for a combined 334 ft of net pay across the discovery.
Based on mapping and pressure data, Valeura believes the D, E and nearby F fault blocks are filled to their spill point. If confirmed, the accumulation could support a new satellite platform linked to the existing Manora A processing facility.
While a third sidetrack tested a shallower play that did not encounter hydrocarbons, results from the D and E fault blocks reduced exploration risk in the adjacent F fault block.
The discovery could also improve the economics of the nearby Malida Field, located about 3.5 km east of Suraphi. Valeura has begun development planning and will conduct studies related to Malida appraisal and future exploration opportunities.
Elsewhere in Thailand operations
Prior to drilling Manora-9, Valeura completed a four-well development and appraisal campaign at the Jasmine Field, where newly identified zones are being evaluated for future development.
Although the Borr Mist jackup rig will now be released from its contract, Valeura expects to resume Gulf of Thailand drilling operations in early November, when it begins its charter of the Shelf Drilling Enterprise jackup.
The initial focus will be a program on the Nong Yao Field in Block G11/48, followed by development drilling on the Wassana Field on Block G10/48.
Valeura has also confirmed approval from the government of Thailand for its farm-in transaction with PTTEP Energy Development Co. for offshore blocks G1/65 and G3/65.
By paying 40% of PTTEP's historical costs and funding a 163-sq-km 3D seismic survey over the Nong Yao Northeast area, for a total investment of $25.6 million, Valeura will earn a 40% interest in the blocks.
