4th Oct 2022 11:36
Valeura Energy Inc - oil and gas exploration, development and production in Turkey - Extends PV Drilling I rig contract with Petrovietnam Drilling and Well Service Corporation to support its Gulf of Thailand operations in 2023. Says the rig is expected to mobilise the Wassana oil field during the second quarter next year.
Additionally, says it expects to restart production from the Wassana oil field in the fourth quarter, with initial oil production rates of up to 3,000 barrels of oil per day, targeting an increase to 4,500 barrels of oil per day as a result of the 2023 infill drilling programme.
Chief Executive Officer Sean Guest says: "We remain confident in our ability to resume oil production at the Wassana field later this quarter. With positive progress on all key work streams, supporting the return to active production operations, we are already setting our sights on our growth targets, and with this drilling rig contract in place we will be well-prepared to increase production in 2023."
Current stock price: EUR0.30
12-month change: up 30%
By Xindi Wei; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.
Related Shares:
VLU.L