SINGAPORE - June 27, 2024 (GLOBE NEWSWIRE) -- Valeura Energy Inc. (TSX:VLE, OTCQX:VLERF) ("Valeura" or the "Company") announces the suspension of production at its 100% owned Wassana field, offshore Gulf of Thailand.
During a scheduled underwater inspection of the field's production facility, the mobile offshore production unit Ingenium (the "MOPU"), a crack was identified within one of the MOPU's steel jack-up legs. The Company believes such an anomaly may potentially pose a risk to the structural integrity of the MOPU.
- Baca Juga Completion of Nong Yao FSO Acquisition
Out of the abundance of caution, and in keeping with its strict standards for safety, the Company has chosen to suspend production operations at the Wassana field while further inspection and analysis is conducted.
Valeura stresses that there has been no incident in relation to this development, and hence no adverse impact to people or the environment.
Valeura is working with a team of internal and external experts to define the optimal course of action and will provide an update in due course, including by way of a Q2 2024 operations update, which it intends to announce within the second week of July 2024.
For further information, please contact:
Valeura Energy Inc. (General Corporate Enquiries)
+65 6373 6940
Sean Guest, President and CEO
Yacine Ben-Meriem, CFO
[email protected]
Valeura Energy Inc. (Investor Enquiries)
+1 403 975 6752 / +44 7392 940495
Robin James Martin, Vice President, Communications and Investor Relations
[email protected]
CAMARCO (Public Relations, Media Adviser to Valeura)
+44 (0) 20 3757 4980
Owen Roberts, Billy Clegg
[email protected]
Contact details for the Company's advisors, covering research analysts and joint brokers, including Auctus Advisors LLP, Canaccord Genuity Ltd (UK), Cormark Securities Inc., Research Capital Corporation, Schachter Energy Report, and Stifel Nicolaus Europe Limited, are listed on the Company's website at www.valeuraenergy.com/investor-information/analysts/.
About Valeura
Valeura Energy Inc. is a Canadian public company engaged in the exploration, development and production of petroleum and natural gas in Thailand and in Türkiye. The Company is pursuing a growth-oriented strategy and intends to re-invest into its producing asset portfolio and to deploy resources toward further organic and inorganic growth in Southeast Asia. Valeura aspires toward value accretive growth for stakeholders while adhering to high standards of environmental, social and governance responsibility.
