[Thailand] Nong Yao - Aurora FSO

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escveritas
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[Thailand] Nong Yao - Aurora FSO

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Nong Yao field

In June 2015, the Nong Yao oil field in Block G11/48, in the southern Gulf of Thailand, started production. Mubadala Energy is the operator and holds a 90-percent participating interest. The facilities comprise a Wellhead Platform, a Wellhead Processing Platform, and Floating Storage Offloading vessel. Cumulative production from the field to date is in excess of 20 million barrels.

Nong Yao was the second development in Thailand after Manora that Mubadala Energy has taken from discovery and appraisal through to development and into production. The field was originally discovered in 2009 and further appraised by five wells. The project was delivered efficiently, on time and most importantly safely.
escveritas
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Posts: 3181
Joined: Sat Aug 29, 2020 5:40 am
Location: Singapore
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Re: [Thailand] Nong Yao - Aurora FSO

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Nong Yao Infrastructure Update

Singapore, February 13, 2024: Valeura Energy Inc. (TSX:VLE, OTCQX:VLERF) (“Valeura” or the “Company”), the upstream oil and gas company with assets in the Gulf of Thailand and the Thrace Basin of Turkey, is pleased to announce the mobilisation of a Mobile Offshore Production Unit (“MOPU”), destined for its Nong Yao field, and to provide an update on development drilling at the Wassana field, offshore Thailand.

Highlights
  • MOPU TSeven Shirley being mobilised to the Nong Yao field (90% working interest), in preparation for development of the Nong Yao C accumulation, first oil expected late Q2 2024;
  • Valeura purchasing the Nong Yao field’s floating storage and offloading vessel (“FSO”) Aurora for US$19 million, providing greater operational flexibility and cost optimisation; and
  • Wassana field (100% working interest) development drilling programme being expanded to five horizontal wells, first two wells have resulted in field output increasing to more than 4,000 bbls/d.
Nong Yao Infrastructure

The MOPU TSeven Shirley has departed its shipyard at Qing Dao, China and is now enroute to Valeura’s Nong Yao field (90% working interest) in the Gulf of Thailand. Upon arrival, the MOPU will be connected to the pipeline that has been already installed from the existing Nong Yao field infrastructure, and will serve as the wellhead production platform for the Company’s Nong Yao C field development. Following hook-up and commissioning work, Valeura intends to conduct an initial drilling programme of up to nine development wells (six producers and three water injectors). First production from the Nong Yao C extension is expected in late Q2 2024, and when fully on stream in the months thereafter, the Company is targeting peak production rates from the greater Nong Yao field totalling approximately 11,000 bbls/d (90% working interest share).

The TSeven Shirley is a new-build MOPU, based on a jack-up drilling rig hull, and customised to suit the requirements of the Nong Yao C accumulation. The MOPU includes a 12 slot well bay, total design fluid capacity of 20,000 bbls/d and water injection design capacity of 10,000 bbl/d. Valeura has agreed to charter the MOPU for an initial term of five years, with provisions for extension thereafter.

Separately, Valeura has exercised its purchase option to acquire the Nong Yao field’s FSO Aurora, which it had previously leased from the seller, a member of the Omni Offshore Terminals group. Purchase price for the vessel is US$19 million, to be funded with the Company’s cash resources upon completion of the transaction, anticipated in June 2024. Given the pending expansion of the field and potential future developments, Valeura anticipates that owning, as opposed to leasing the FSO will provide operational flexibility and allow the Company to optimise operating expenses.
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