en.Wedoany.com Reported - Valeura Energy has received approval for a new drilling phase at its operated Nong Yao Field in the Gulf of Thailand to boost production through platform expansion. The company plans to commence the installation of drilling facilities in Q4 2026 to support the field's ongoing development.

The Nong Yao Field is one of Valeura Energy's key assets in the Gulf of Thailand. In Q1 2026, the quarterly average production based on working interest was 22.3 MBbl/d, aligning with the operating plan. The company has approved a capital project to expand the Nong Yao A platform with four additional well slots to increase the capacity of development wells.

Management stated that this expansion is an upgrade to existing infrastructure, not a full-scale redevelopment. By adding well slots, the operator expects to access reservoir sections currently untapped, support additional development opportunities, and improve drilling reach.

As of March 31, 2026, the company had a total cash on hand of $261.6 million with no outstanding long-term debt. This financial position provides flexibility for the project, enabling the company to fund development and manage inventory, with some excess crude inventory already sold to convert into revenue.

The enhanced drilling capability at the Nong Yao Field helps maintain production levels amid changing reservoir conditions and supports near-term output. The phased expansion aids in managing operational risks and provides flexibility for the long-term redevelopment of the offshore portfolio.

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