Valeura Energy Inc. Accelerates Wassana Field Redevelopment
CALGARY, AB / ACCESS Newswire / September 1, 2026 – Valeura Energy Inc. (TSX:VLE)(OTCQX:VLERF) (“Valeura” or the “Company”) is set to expedite its Wassana field redevelopment project in the Gulf of Thailand, aiming for earlier oil production.
Key Developments
Dr. Sean Guest, President and CEO, stated:
“Work on our central processing platform is proceeding on budget and ahead of schedule. We expect mechanical completion of the facility by October 1, 2026, and anticipate first oil from the new development around Q2 2027.”
This redevelopment marks Valeura’s first organic greenfield project in Thailand and is its largest capital venture to date, with expectations already exceeding initial projections.
Project Timeline
Valeura has completed all necessary commercial arrangements to commence installation of the Wassana CPP two months earlier than initially planned. Additionally, the Company plans to begin work with the Shelf Enterprise drilling rig on November 1, 2026, focusing initially on drilling Nong Yao wells.
Financial Guidance
Despite being on budget, the Company expects additional expenditures in 2026 due to project acceleration. The new full-year 2026 adjusted capital expenditure guidance is set between US$220 – 235 million, up from the previous US$195 – 215 million. The anticipated production plateau rate is about 7,500 bbls/d, potentially leading to an extra 430,000 bbls of oil production in 2027.
Background on Wassana Redevelopment
The Wassana field redevelopment project, initiated in 2025, involves deploying a new CPP to significantly increase recoverable oil volumes compared to the existing facility, the mobile offshore production unit, which is set for decommissioning at the end of 2027. The CPP also allows for future tie-ins to additional satellite production facilities, as indications of substantial oil reserves have been identified in the area south of the Wassana field.
For further information, please contact:
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Valeura Energy Inc. (General Corporate Enquiries): +65 6373 6940
Sean Guest, President and CEO
Yacine Ben-Meriem, CFO
Contact@valeuraenergy.com -
Valeura Energy Inc. (Investor and Media Enquiries): +1 403 975 6752
Robin James Martin, SVP, Communications and Investor Relations
IR@valeuraenergy.com
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Valeura Energy Inc. is a Canadian public company focused on petroleum and natural gas exploration in Thailand and Türkiye, committed to environmentally responsible growth strategies.
Disclosure: This news release includes forward-looking information. Readers are advised to review the associated risks and cautionary statements.
For more, view the original press release on ACCESS Newswire.
