Valeura advances multi-well drilling campaign offshore Thailand

July 8, 2025, by Dragana Nikše

Canada-based oil and gas company Valeura Energy is moving forward with its drilling program offshore Thailand.

In an operational update, Valeura disclosed that the Mist drilling rig was mobilized to Block G11/48, Nong Yao, in which it has a 90% working interest, while the remaining 10% is held by local player Palang Sophon.

Nong Yao comprises Nong Yao A and Nong Yao C. The MOPU TSeven Shirley serves as the wellhead production platform for the Nong Yao C field development.

The campaign is said to be progressing as planned toward its objective of approximately ten new development wells and is expected to be complete in Q4 2025. The wells will be drilled using the 2013-built Mist rig from Borr Drilling’s fleet. Valeura extended its contract in November 2024, enabling it to stay busy until August 2026.

The latest campaign will entail new development wells drilled from each of the three Nong Yao wellhead facilities. As stated by Valeura, this will encompass the first ever infill development wells on the Nong Yao C platform, which the company installed in 2024.

Sean Guest, President and CEO commented: “During Q2 2025 we demonstrated another safe quarter of ongoing production and drilling operations and took a positive final investment decision on our major redevelopment project at the Wassana field, which is now moving to the construction phase.

“While production volumes are down quarter-on-quarter, our plan had always assumed that production would be weighted to the second half of the year and we are therefore maintaining our full-year production guidance range of 23.0 – 25.5 mbbls/d.”

According to Valeura’s estimates, Nong Yao contains 16.9 million barrels of 2P oil reserves, on a gross working interest share basis, before royalties. The field has been developed by wells, drilled from two wellhead platforms and a mobile offshore production unit, which are connected to a floating storage and offloading vessel (FSO) Aurora.

After announcing its intention to purchase the vessel, the Canadian player wrapped up the acquisition last June. The firm believes the ownership of the unit will provide operational flexibility, enabling it to optimize and reduce operating expenses.

Aside from this, in May 2025, Valeura took a final investment decision (FID) on the redevelopment of the Wassana field in license G10/48 offshore Thailand, in which it holds a 100% interest. The project will entail deployment of a new central processing platform (CPP) facility on the field, intended to increase production, reduce costs, and create a hub for eventual tie-in of potential additional satellite wellhead platforms.

In the latest update, the Canadian firm said the Wassana project is on plan, and moving into its construction phase now. First production is targeted for Q2 2027.