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Valeura Energy Inc. Announces Bussabong Development Final Investment Decision
Bussabong Gas Development Final Investment Decision
CALGARY, AB /ACCESS Newswire/ September 22, 2026 /Valeura Energy Inc. (TSX:VLE)(OTCQX:VLERF) (“Valeura” or the “Company”) announces that along with its partner, PTTEP Energy Development Company Limited, a subsidiary of PTT Exploration and Production Public Company limited (“PTTEP”), it has taken a Final Investment Decision (“FID”) to proceed with an initial gas development at the Bussabong gas field (Block G3/65, 40% non-operated working interest) in the offshore Gulf of Thailand (“Phase 1”).
The project will be Valeura’s first organic gas development in its Thailand portfolio. Phase 1 of the Bussabong development establishes a repeatable development template for the eventual full development of the field.
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Efficient design: Two gas wellhead platforms with 24 well slots each, tied in to processing infrastructure with a nine km sub-sea pipeline;
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Fully funded: Approximately US$35 million capex for facilities, installation, and pipelines spread over approximately two years, plus capex associated with drilling 25 development wells, estimated at approximately US$20-25 million (net to Valeura 40% share);
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Rapid development: Phase 1 entails deployment of two wellhead facilities with first production approximately year-end 2028;
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Economically resilient: Robust economics, in keeping with Valeura’s strategy to pursue value-accretive growth; and
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Substantial running room: Valeura’s first gas production in Thailand, opening the way to further phases of development in the future.
Dr. Sean Guest, President and CEO commented:
“I am pleased to have rapidly turned our strategic farm-in with PTTEP into tangible development action. Within 14 months of entering into this arrangement, we are taking our first gas FID, which we believe sets us on a course to broaden and diversify our business in the Gulf of Thailand.
Phase 1 is set to unfold quickly, with first gas planned for approximately the end of 2028. This quick action reflects PTTEP’s customary streamlined approach and underscores the importance of establishing this strategic relationship.
Moreover, the capital outlay associated with the project is modest, in part reflecting the resource synergies available through the operator PTTEP, but also reflecting the initial nature of this development. The Bussabong field production area is expected to offer significant appraisal and exploration upside already identified on 3D seismic data, with the potential for further phased development in the future. As such, we see this as just the beginning – an exciting first step in what will be a methodical, phased approach to build production materiality and longevity, both from the Bussabong gas field, and also from the various other oil and gas focus areas we have identified on Block G3/65.”
