Singapore based oil and gas company Valeura Energy Inc. (Valeura) has announced the completion of its acquisition of the Floating Storage and Offloading (FSO) vessel Aurora, on location at its Nong Yao field, offshore Gulf of Thailand.
The acquisition was the result of Valeura exercising its purchase option to acquire the vessel, which it had previously leased from the seller, a member of the Omni Offshore Terminals group.
The purchase price of US$19 million was funded with the Company’s cash resources, and the transaction was completed on 11th June 2024, with final handover occurring offshore on the vessel itself.
Valeura anticipates that owning, as opposed to leasing the FSO, will provide operational flexibility and allow the Company to optimise and reduce operating expenses.
Source: Valeura Energy
