Under the blue waves of the Gulf of Thailand, dormant oil and gas resources are being awakened. Valeura Energy is fully committed to promoting the redevelopment of the Wassana oil field, seizing the window period to accelerate the construction of the central processing platform, and significantly advancing the first oil production node. The largest investment project in the history of this company is speeding towards production, injecting strong momentum into the future of regional energy.

Project acceleration

Valeura Energy, a Canadian oil and gas company, is accelerating the redevelopment of oil fields in the Gulf of Thailand, bringing forward the first oil production milestone to early Q2 2027, two months earlier than originally planned. The enterprise accelerates the redevelopment of Wassana oilfield in G10/48 block, completes all business and contract revisions, and installs the central processing platform CPP ahead of schedule in October 2026.

The company notified the drilling contractor that the drilling platform will be put into operation on November 1, 2026, and the Nong Yao oil well drilling will be carried out first to ensure the early drilling construction of the Wassana oil field. The CEO of the company stated that the construction of the CPP platform is under budget and progressing faster than planned. The mechanical completion of the shipyard is expected to be completed before October 1, 2026. Seize the window period and install in advance to promote the project to achieve oil production by early Q2 2027.

Adjust capital expenditures

The overall cost of the project is still within the budget, but the rush to work and pre drilling will increase the expenditure for 2026, and some of the 2027 budget will be moved forward. The company has raised its adjusted capital expenditure guidance for 2026 to $220-235 million. The CPP platform has a stable daily output of 7500 barrels, and early production can add approximately 430000 barrels of crude oil production by 2027.

Planning for long-term development

The final investment decision for the 2025 project has been finalized, with the construction of a new CPP to replace the existing offshore production facility, which will be decommissioned by the end of 2027. Redevelopment enhances the recoverable reserves of oil fields and prolongs the economic development period. The platform reserves interfaces that can be connected to satellite production facilities on both the north and south sides. Keywords: advanced oil production, central processing platform, satellite oil field, Gulf of Thailand

Significant new oil and gas resources have been discovered in the southern exploration of the Wassana oilfield. The company is currently evaluating drilling plans and assessing the potential for satellite oilfield development. This project is the company's first independently built oil field in Thailand and also the largest investment project in the company's history, with overall progress exceeding expectations.Editor/Gong Ziwei