AsianOil: Valeura Energy makes three oil discoveries offshore Thailand

The Canadian oil and gas exploration company Valeura Energy announced on April 15 that it had made three oil discoveries in its offshore assets in the Gulf of Thailand.

Company President and CEO Sean Guest said in a statement that one discovery was made in the Nong Yao D area and that two other discoveries were made in the north-east portion of the Wassana concession.

The Nong Yao-13 well, located in the G11/48 concession where Valeura holds a 90% working interest, was drilled to a depth of 5,399 feet (1,646 metres). The well found 30ft (9.1m) of new oil resources across several intervals, Valeura said, adding that the result confirms that oil has successfully migrated into this area of the block. Prior to drilling, the company saw drilling the well as a risk. It said the relatively shallow new zones are believed to be reoccurring across the Nong Yao D area and that further analysis of the seismic data would be made. Valeura said it will seek other potential locations for follow-up exploration and appraisal drilling in the area with the goal being amassing sufficient volumes to justify further development.

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