Canada-based oil and gas company Valeura Energy has advanced its multi-well drilling campaign offshore Thaild, using Borr Drilling’s Mist jack-up rig.
During the second quarter of 2025, Valeura mobilized Borr Drilling’s Mist jack-up drilling rig to Block G11/48, containing the Nong Yao field.
The drilling campaign is progressing as planned toward its objective of approximately 10 new development wells and is expected to be complete in the fourth quarter of 2025, the company said.
The campaign will entail new development wells drilled from each of the three Nong Yao wellhead facilities, and will therefore include the first ever infill development wells on the Nong Yao C platform, which the company installed in 2024.
“During the second quarter of 2025 we demonstrated another safe quarter of ongoing production and drilling operations and took a positive final investment decision on our major redevelopment project at the Wassana field, which is now moving to the construction phase.
“While production volumes are down quarter-on-quarter, our plan had always assumed that production would be weighted to the second half of the year and we are therefore maintaining our full-year production guidance range of 23.0 – 25.5 mbbls/d.
“From a financial perspective, we continue to prioritise balance sheet strength, and firmly believe this will serve our stakeholders well as we pursue opportunities to add value. While the headwinds of lower global oil prices during the quarter are apparent in our revenue of $129.3 million, we are continuing to invest while maintaining a strong cash position,” said Sean Guest, President and CEO of Valeura.
Aside from Nong Yao, Valeura took a final investment decision on redevelopment the Wassana field in licence G10/48 in May 2025.
The project will entail deployment of a new central processing platform facility on the field, intended to increase production, reduce costs, and create a hub for eventual tie-in of potential additional satellite wellhead platforms.
According to the company, the project is on plan, and is currently moving into its construction phase, with the first production targeted for the second quarter of 2027.
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