Valeura Energy, a Canadian oil and gas company, announced the discovery of oil near its existing oil field in the Gulf of Thailand. This discovery was made in the Suraphi area, close to the Manora oil field, and is likely to lead to the development of a new satellite facility that will extend the production life of existing infrastructure.
Details of the Oil Discovery in the Suraphi Field
The oil discovery in the Suraphi field was made through the drilling of the exploratory well Manora-9 and its related branches. This well is located approximately 4.5 kilometers northeast of the Manora A platform. Several targets were considered in this operation, each located in a different fault block. While target E identified several oil-bearing rock layers in lake sands, target D also encountered a similar section of oil reservoir in the adjacent fault block.
Implications of the New Discovery for Field Development
Dr. Sean Guest, President and CEO of Valeura, described this discovery as a "game changer" for block G1/48, adding that the results obtained in terms of oil volume are higher than pre-drilling estimates. This is likely to justify the development of a new satellite facility in this block. Additionally, this discovery indicates the presence of new and thicker reservoir sands in this structure, pointing to other exploratory opportunities in the vicinity.
Valeura is quickly moving to the development planning stage to maximize the value of the new discovery and lay the groundwork for future developments in the area. In this regard, the company intends to conduct studies to evaluate the Malida oil field and reassess nearby exploratory opportunities.
This discovery will also help increase oil production in existing fields. The oil production rate has increased from approximately 7,570 barrels per day before the drilling operations began to 8,250 barrels per day after the drilling operations commenced. Dr. Guest expressed satisfaction with the results of the drilling program and emphasized the importance of continuing these operations in all aspects of development, evaluation, and exploration.
