Valeura seals Thailand FSO deal with BULL

Canadian operator Valeura Energy has secured a floating storage and offloading (FSO) unit for the Wassana oilfield in the Gulf of Thailand.

The Calgary-based firm has signed a contract with Indonesia’s Buana Lingas Lautan (BULL) for the charter of the 1999-built post-panamax tanker Vula to be used as the FSO vessel.

“Valeura and Buana have entered into a letter of award detailing the key heads of agreement and are working to finalise the remaining commercial terms by way of a formal charter agreement,” the company said in its third-quarter earnings presentation.

The FSO should mobilise to the Wassana field by the end of 2022, pending routine customs clearances and safety inspections.

Valeura said it is targeting oil production in January 2023. An initial oil production rate is expected to be up to 3,000 bbls/d with an increase of 4,500 bbls/d targeted as a result of the 2023 infill drilling programme. Valeura has chartered the PV Drilling 1 jackup rig and is now engaged in planning and procurement work relating to its 2023 drilling programme.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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