Salamander inks Bualuang part-sale

Salamander Energy has signed a non-binding heads of agreement with SONA to sell an effective 40% working interest in both the B8/38 concession (containing the Bualuang field) in the Gulf of Thailand and the surrounding G4/50 concession. 

The deal would be worth US$280 million, comprising $250 million for a 40% effective interest in the B8/38 concession, and $30 million for a 40% effective interest in the G4/50 exploration concession. 

Salamander will carry SONA's costs associated with the drilling of two exploration wells in the G4/50  concession up to an agreed cap. SONA will pay Salamander a contingent cash payment in the event of a commercial discovery in G4/50 of up to $15 million.

As at 31 December 2013, Salamander's estimated gross Bualuang Field 2P reserves were 32.7MM bbl and gross 2C resources were 32.3MM bbl.

Salamander says it continues a formal sale process, announced 1 May. 

Read more: Bualuang production restarts

 

Current News

Masdar, RWE Get Closer to Official Go-Ahead for 3GW UK Offshore Wind Farms

Masdar, RWE Get Closer to Offi

Arabian Drilling Secures Five Jack-Up Rig Extensions

Arabian Drilling Secures Five

Baker Hughes, Petronas Team Up for Asia-Pacific Energy Resilience

Baker Hughes, Petronas Team Up

Expro Gets Woodside Job at Trion Deepwater Project off Mexico

Expro Gets Woodside Job at Tri

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine