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Licence G6/48 (Rossukon oil field)

Re-invigorating a stalled development

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.  The field contains best estimate (2C) unrisked contingent resources of 4.7 MMbbls of oil, classified as “development pending,” in addition to certain additional 2C unrisked contingent resources, classified as “development unclarified.”*

 

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** was completed on June 15, 2022.  The remaining 57% interest is held by Northern Gulf Petroleum.

* Reserves and resources estimates are based on an independent third party reserves and resources assessment  by Netherland, Sewell & Associates, Inc. as of March 31, 2022 and more fully described in the Company’s June 13, 2022 announcement.
** Interests in Licence G10/48, Licence G6/48 and the MOPU are presented on a working interest acquired basis to the Valeura-controlled special purpose vehicle, Panthera Resources Pte. Ltd., in which Valeura holds 85% of the share capital, as more fully described in the Company’s April 28, 2022 announcement.
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