Expansion of Nong Yao Oil Field Boosts Production Prospects
Valeura Energy Inc. has recently made significant strides in its development drilling efforts at the Nong Yao oil field in the Gulf of Thailand. The successful completion of an infill drilling campaign at Nong Yao A and the initiation of development drilling on the Nong Yao C extension mark important milestones for the company. The newly drilled production-oriented horizontal wells at the Nong Yao A wellhead platform have already started contributing to the overall production capacity of the field.
Increased Production Capacity from Successful Drilling Campaign
The 37H well, culminating in the primary target H12.5 reservoir, has been completed for production and is currently yielding approximately 500 bbls/d of oil. Additionally, the well has encountered 68 feet of net oil pay across eight separate appraisal target intervals, providing potential future development opportunities. On the other hand, the 38H well, completed in the H4.3 reservoir interval, is currently producing around 1,000 bbls/d of oil. The discovery of a thin oil-bearing sand in the shallower H2.0 sand interval also offers prospects for additional producible volumes.
Future Development Plans and Production Projections
The Company’s contracted drilling rig has now moved to the Nong Yao C mobile offshore production unit to commence batch drilling operations for the development of the Nong Yao C field extension. The upcoming drilling campaign, expected to last approximately four months, will include up to nine gross wells, comprising six producer wells and up to three water injectors. Valeura aims to achieve first oil from the Nong Yao C development in the Third Quarter of 2024, with a target peak oil production rate of 11,000 bbls/d from the expanded Nong Yao field, representing a significant increase from the current production levels.
Overall, Valeura Energy Inc.’s recent drilling activities and development plans at the Nong Yao oil field signal a promising outlook for increased production capacity and future growth in the company’s oil operations.
By focusing on expanding its drilling operations and optimizing production processes, Valeura is poised to capitalize on the full potential of the Nong Yao oil field and enhance its position in the offshore energy sector.