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Valeura Energy, PTTEP Take Final Investment Decision on Bussabong Gas Development

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Valeura Energy and partner PTTEP took a final investment decision on the Bussabong gas development in Thailand, with first production targeted around year-end 2028, Valeura said Tuesday.

The Phase 1 project will use two gas wellhead platforms, each with 24 well slots, connected to processing facilities through a nine-kilometer subsea pipeline.

Valeura expects facilities, installation and pipeline spending to total about $35 million over two years, while drilling 25 development wells will require another $20 million to $25 million.

The company holds a 40% non-operated working interest in Block G3/65, the offshore block containing the Bussabong gas field, while PTTEP Energy Development serves as its project partner.

The development will mark Valeura's first organic gas project in Thailand and create a repeatable model for future phases, expanding the company's gas production opportunities in the country.

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$META