Valeura pivots to SE Asia
The independent has bought assets in Thailand and is looking at acquisitions elsewhere in the region
Toronto- and London-listed independent Valeura has signed a sales-and-purchase agreement to acquire and operate the Thai assets of Singapore’s bankrupt Krisenergy. The acquisition comprises 89pc of the Wassana field and 43pc of the Rossukon field for $3.1mn, plus contingency payments of up to $7mn and the purchase of an onsite mobile production unit for a further $9.2mn. Valeura intends to reactivate Wassana and reach 3,300bl/d of production by the fourth quarter of this year, while Rossukon is fully appraised but so far undeveloped. Proven and probable reserves at the fields—which are both in shallow waters in the Gulf of Thailand—total around 4mn bl. The remaining shares in Wassana and Ros
Also in this section
3 May 2024
Upcoming elections are likely to deliver a win for the party of president Andres Lopez Obrador, but analysts differ over to what degree his successor will stick to his energy policies
2 May 2024
Faster-than-expected economic growth fails to mask macro imbalances and shifting structural oil product trends
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well
30 April 2024
While its regional neighbours reap the rewards of oil and gas success, Iraq’s hydrocarbons sector is lagging behind