The Canadian oil and gas company Valeura Energy has commenced offshore installation at the Wassana field located in block G10/48 in the Gulf of Thailand. This action has taken place two months earlier than the originally planned timeline. Valeura Energy announced in early September that it had finalized all necessary commercial arrangements and contractual amendments to begin the installation of the Central Processing Platform (CPP) for the project in October.
Installation Details and Planning
The offshore installation began on October 9, and the Canadian company has also informed its drilling contractor to commence the lease of the Shelf Enterprise rig starting November 1. This rig will initially be used to drill Nong Yao wells through additional well slots at the Nong Yao A facilities and will assist in earlier development drilling at the Wassana field.
Read more: Rockhopper Secures $44 Million Investment in Falkland Offshore Project
Given the forecasted plateau production rate of approximately 7,500 barrels per day from the new CPP, Valeura anticipates that the two-month acceleration in startup will result in an additional production of about 430,000 barrels of oil in 2027 compared to the project's initial plan.
Investment Decisions and Future of Wassana Field
Valeura made its final investment decision (FID) for the redevelopment of the Wassana field in 2025 and intends to commercialize larger volumes of oil using the new CPP. This will be significantly more than what is feasible with the Ingenium Mobile Offshore Production Unit (MOPU). The Ingenium MOPU is expected to be decommissioned around the end of 2027.
The CPP is designed to allow for connections to additional satellite production facilities that may be constructed in the future to develop further oil accumulations to the north and south of the field. Recent mapping of the southern area of the field has identified significant additional oil volumes, and the company is exploring exploratory drilling options to fully assess the satellite potential.
Read more: Fire on Tanker in Strait of Hormuz and Warning to Ships · Closure of Large Cardon Refinery in Venezuela After Multiple Explosions
