Valeura Energy acquires key acreage in Thailand

Thailand

BANGKOK, March 24, 2023 – Valeura Energy has acquired stakes in four oil and gas projects from Mubadala Petroleum making it the largest independent working in Thailand, the Canadian oil and gas company announced on Wednesday.

The completed acquisitions include 100% interest in the B5/27 licence, which contains the Jasmine and Ban Yen fields; a 90% operating stake in the G11/48 licence, which contains the Nong Yao field; and a 70% operating interest in the G1/48 licence, which contains the Manora field.

Cost of the deal is USD 10.4 million plus an additional USD 50 million contingent on pricing scenarios.

The combined acquisitions produced around 21,200 bopd in December 2022, which was when the deal to purchase shares from UAE’s Mubadala Petroleum was first announced.

In May 2022, Valeura Energy joined Thailand’s upstream segment through a slew of acquisitions.

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