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Licence B5/27 (Jasmine and Ban Yen oil fields)

Stable mid-life oil fields

A Valeura subsidiary has entered into an agreement to acquire a 100% operated interest** in Licence B5/27, as announced by the Company on December 6, 2022.  The transaction is subject to customary closing conditions and Valeura anticipates closing the transaction in Q1 2023.  

Licence B5/27 contains the producing Jasmine and Ban Yen oil fields.  The fields produce approximately 10,100 bbls/d of light sweet crude oil from several stacked channel sand reservoirs of Miocene age.  Together, the Jasmine and Ban Yen fields contain 9.9 million bbls of 2P oil reserves on a net working interest acquired basis.*

The fields have been developed by 132 wells connected to a network of infrastructure including various pipelines and six topside facilities which perform crude oil separation and water treatment/disposal.  Production is processed and stored on a leased Floating Production Storage and Offloading vessel.  The crude oil is typically sold into the local market at prices approximately US$2/bbl below the Brent crude oil benchmark.

* Reserves estimates are based on management’s internal (non-independent) assessment, as of December 31, 2021.
** Interests are presented on a working interest acquired basis to the Valeura-controlled special purpose vehicle company, Valeura Energy Asia Pte. Ltd. in which Valeura holds 85% of the share capital.