Valeura holds a 100% operated interest in Licence G10/48 containing the Wassana oil field, which is a collection of crude oil-bearing sandstone reservoir intervals of Miocene age. The field is estimated to contain 2P reserves of 12.9 MMbbls of oil as of December 31, 2024 on a gross (before royalties) basis*.
Production operations (which were suspended under the previous owner) have resumed under Valeura’s operatorship. Through exploration and appraisal drilling, Valeura has identified the potential to increase output from the field through a potential re-development. The field’s production is medium-weight crude oil.
The Wassana field was developed by way of production wells drilled off a Valeura-owned Mobile Offshore Production Unit (“MOPU”). Crude oil is processed at the MOPU and is stored in a leased Floating Storage and Offloading vessel.
Valeura initially acquired an operated 89% working interest through a transaction that was completed on June 15, 2022, and acquired the remaining 11% interest in April 2023.
