Valeura's Thai Oil Discovery Lifts Production to 8,250 Barrels per Day
Valeura Energy Inc has made a significant discovery near its Manora oil field in the Gulf of Thailand. The Suraphi discovery, drilled from the Manora-9 well and sidetracks about 4.5 km northeast of Manora A, encountered oil-bearing sandstone intervals in two fault blocks with net oil pay of 162 ft in the E prospect and 172 ft in the D prospect.
The company believes this discovery can support a new satellite facility tied back to the existing Manora-A platform and could facilitate development of the nearby Malida field. In addition, the Suraphi discovery has derisked several nearby exploration prospects, adding to the total potential magnitude of this discovery.
Separately, Valeura completed a successful development and appraisal drilling campaign on its Jasmine field. Four new wells lifted oil output from approximately 7,570 bbl/d to about 8,250 bbl/d (before royalties), generating additional organic investment opportunities.