«Work on our new-build central processing platform (CPP) is proceeding on budget and remains ahead of schedule, with facility construction (also known as mechanical completion) in the yard expected to be complete by 1 October 2026. We are now taking the opportunity to install the facility earlier than originally planned, leading to the potential for first oil from the new development at approximately the beginning of Q2 2027», said Dr. Sean Guest, President and CEO.
According to the company, given the anticipated production plateau rate of approximately 7,500 bbls/d from the new CPP, the company anticipates that a two-month acceleration in start-up will result in approximately 430,000 bbls in additional oil production in 2027, versus the original project plan.
In 2025, Valeura took a final investment decision to redevelop its Wassana field by deploying a new-build CPP with the objective of commercialising more oil volumes than would be possible with the existing production facility, the mobile offshore production unit Ingenium, which is due for decommissioning at approximately the end of 2027.
The redevelopment project has resulted in an increase in the total anticipated recoverable oil volumes and an extension in the anticipated end of economic life of the field.
About the company
Valeura Energy Inc. is a Canadian public company engaged in the exploration, development and production of petroleum and natural gas in Thailand and Türkiye. The company is expanding operations organically and through acquisitions in Southeast Asia, focusing on assets with immediate or substantial near-term cash flow, with imbedded reinvestment opportunities.
