Valeura Energy completes infill drilling at Jasmine field in Gulf of Thailand

Moscow, November 29 - Neftegaz.RU. Valeura Energy, a Canadian company, has completed the infill drilling campaign at the Jasmine field in licence B5/27, located offshore in the Gulf of Thailand.

S. Guest, President and CEO commented:

• I am very pleased with our drilling performance at Jasmine, which has resulted in aggregate oil production rates of nearly 10,000 bbls/d (before royalties) over the last seven days;
• maintaining oil production at this asset is key to generating ongoing cashflow from our portfolio;
• in addition, the fact that we continue to see appraisal successes at this relatively mature field bodes well for our objective to further extend the economic life of the asset;
• we expect the results of these wells, and the recent production rates to be considered as part of our year-end reserves assessment, and to support our target of achieving more than a 100% reserves replacement ratio.

Valeura drilled a five well programme, comprised of two infill development wells on the Jasmine A platform, completed in September 2024 and previously announced, and more recently, three infill development wells on the Jasmine D platform, which were all successful and have been brought online as producers while also successfully appraising several additional reservoir intervals.

The JSD-42 well drilled a production-oriented primary objective in the 250 sand reservoir, and is believed to be optimally positioned at the crest of the structure.
The well was completed as a producer within this zone and has begun producing oil in line with management’s expectations.
In addition, the JSD-42 well evaluated several secondary appraisal targets, which resulted in five further zones being completed as future producing reservoirs, and also encountered several additional oil-bearing intervals which may be the subject of further infill development drilling in due course.

The JSD-41H and JSD-43H wells were both drilled as horizontal development infills within the 680-1 sand reservoir, with the objective of more efficiently sweeping oil from this already-producing interval.
Both wells were geosteered across horizontal intervals measuring over 2,000ft (measured depth), and encountered 100% net sand.

With all five wells completed as producers and online, aggregate oil production from the field has averaged 9,801 bbls/d (before royalties) over the period November 19-25, 2024, an increase of 26% from rates just prior to the new wells coming online (7,764 bbls/d over the period September 6-12, 2024).

Following the Jasmine D infill drilling programme, the Company’s contracted drilling rig has been moved to the Manora field on Licence G1/48 (70% working interest), where it has started operations on a five well infill drilling programme, comprised of three production-oriented wells and two appraisals.