Valeura Finds New Oil Near Manora Field in Gulf of Thailand

Valeura Energy has discovered a new oil accumulation near its Manora field in the Gulf of Thailand, with drilling results prompting the company to move immediately into development planning for a potential satellite facility.

The Suraphi discovery was made through the Manora-9 open-water exploration well and associated sidetracks, about 4.5 km northeast of the Manora A platform on Block G1/48, where Valeura holds a 70% operated working interest.

Drilling targeted several prospects in separate fault blocks. The E prospect encountered several oil-bearing sandstone intervals within the 600-series lacustrine sands, intersecting a 626-ft gross oil column with 162 ft of net oil pay.

The D prospect encountered a similar oil-bearing reservoir section in an adjacent fault block, with an 849-ft gross column and 172 ft of net oil pay. A third sidetrack targeting a shallower, higher-risk play did not encounter hydrocarbons.

Valeura said the success in the D and E fault blocks had effectively de-risked the adjacent F fault block, which is visible on 3D seismic. Mapping calibrated with pressure data collected during drilling suggests all three fault blocks could be filled to their spill points.

“Our discovery of a new accumulation of oil very nearby our Manora field is a game-changer for Block G1/48. The results for net pay encountered exceed our pre-drill estimates and is likely to justify a new satellite facility development on the block,” said Sean Guest, President and CEO of Valeura.

Valeura believes a satellite platform for Suraphi could also provide an opportunity to develop the otherwise-stranded Malida field, about 3.5 km to the east. The facility could be tied into the existing Manora wellhead and processing platform, potentially extending the productive life of the Manora field.

The company will now develop a plan for Suraphi while studying the appraisal of Malida and reassessing nearby exploration prospects for possible inclusion in future drilling campaigns.

Separately, Valeura completed four successful wellbores at its wholly owned Jasmine field, comprising two horizontal development wells and two dual-objective deviated development and appraisal wells.

Production at Jasmine increased to about 8,250 barrels per day before royalties in the seven days after all the new wells came onstream, from about 7,570 bpd in the seven-day period before the wells were brought online.

Valeura added it will shortly demobilize and release the Borr Mist drilling rig. Drilling in the Gulf of Thailand is scheduled to resume in early November using the Shelf Drilling Enterprise, initially at the Nong Yao field before moving to development drilling at Wassana.