Valeura Energy buys FSO working on Nong Yao field off Thailand – Splash247

Canadian operator Valeura Power has exercised its buy choice to accumulate Nong Yao subject’s
FSO Aurora, beforehand beneath lease from an Omni Offshore Terminals subsidiary.

The acquisition worth for the vessel is $19m which shall be funded with the corporate’s money assets upon completion of the transaction, anticipated in June 2024.

Given the pending enlargement of the sector and potential future developments, Valeura claimed that proudly owning, versus leasing the FSO would supply operational flexibility and permit it to optimise working bills.

Valeura turned the proprietor of the Nong Yao subject within the southern Gulf of Thailand via the acquisition of KrisEnergy Worldwide Holdings in 2022. The transaction additionally included the suspended Wassana oil subject and the Rossukon oil subject.

Oil from the Nong Yao subject shall be produced by way of a cellular offshore manufacturing unit (MOPU) supplied by T7 International. The deal, value $88m on the time, was gained by a T7 subsidiary and entails the engineering, procurement, building, set up, commissioning, leasing, operation, and upkeep of the unit for 5 years.

The MOPU was constructed on the China State Shipbuilding Company shipyard in Qing Dao and given the identify TSeven Shirley earlier this month. It departed China shortly after and is headed in direction of Nong Yao.

Upon arrival, the unit will function the wellhead manufacturing platform for the Nong Yao C subject improvement. First manufacturing from Nong Yao C is predicted within the late second quarter of 2024. When totally on stream its peak goal manufacturing shall be round 11,000 bbls/d.