Valeura Energy Inc. the upstream oil and gas company with assets in the Gulf of Thailand and the Thrace Basin of Turkey, is pleased to announce an extension to two key contracts relating to the Jasmine oil field in Thailand. Valeura’s charter of the field’s floating production storage and offloading vessel (FPSO), and a contract for the provision of operating and maintenance services for the vessel, have been extended by five years until the end of 2028.
Both the extension of the FPSO charter and the contract for the provision of operations and maintenance services have been extended to the end of 2028. In addition, the Company is currently conducting approximately US$9 million in capital projects to refurbish the FPSO, aimed at ensuring its ongoing reliability and extending the vessel’s class certification. The spending associated with the refurbishment is in line with the company’s expectations and is included in its capex guidance outlook as announced on April 18, 2023.