Construction of the new processing facility is currently running ahead of schedule and remains within budget. With yard completion set for October 1, the company plans to install the infrastructure two months earlier than the original forecast. This shift in schedule forces a reallocation of capital, pulling spending forward from 2027 into 2026. Consequently, Valeura raised its guidance for adjusted capital expenses, including exploration, to a range of $220 million to $235 million, up from the previous estimate of $195 million to $215 million. The company anticipates that this accelerated production timeline will yield an additional 430,000 barrels of oil in 2027.
Valeura Energy Speeds Up Thailand Offshore Project
Valeura Energy shares climbed 2.8% to 13.94 Canadian dollars on Tuesday after the company announced an accelerated timeline for its Wassana field redevelopment. By moving up the installation of a central processing platform, the firm expects to reach first oil extraction by early in the second quarter of 2027.
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