Block G6/48 contains the undeveloped Rossukon oil field, which is an accumulation of medium sweet crude oil contained within fluvial detaic reservoirs of Miocene age. Valeura’s management estimates recoverable 2C resources of 5.0 MMbbls of oil and 5.7 bcf of gas.
The Thai regulator has approved development of the Rossukon field, and the equity partners are in discussion relating to the development concept and timing of capital spending and resultant production. Valeura regards block G6/48 as source of potential upside value to its Gulf of Thailand portfolio.
Valeura’s acquisition of a 43% operated interest is anticipated to completed in Q2 2022. The remaining 57% interest is held by Northern Gulf Petroleum.