Valeura and Petrofac agree five-year FPSO extension in Thailand
Canada-based Valeura Energy has extended a charter contract for the floating production storage and offloading vessel operating in the Jasmine oil field in Thailand for five years.
A contract for the provision of operating and maintenance services for the vessel has also been extended until the end of 2028.
The company is currently conducting around $9m in capital projects to refurbish the FPSO, aimed at ensuring its ongoing reliability and extending the vessel’s class certification.
“These contract extensions pave the way for Valeura to pursue further field extensions and infill drilling in the years to come as we continually seek to extend the economic life of the asset,” said Sean Guest, Valeura’s president and CEO.
Jasmine field is located approximately 300 km south of Bangkok in a water depth of some 60 m. Crude oil produced from the reservoir is transported to the FPF-003 FPSO, formerly Jasmine Venture MV7, via pipelines. The unit was earlier owned by Modec and deployed at Nexen’s Buffalo field. Modec further deployed the FPSO at the Jasmine field and operated it from 2005 to 2011. The facility is currently operated and maintained by Petrofac in collaboration with PetroFirst Infrastructure.
Published: 02-06-2023
