PTTEP and Valeura Greenlight Phase 1 of Bussabong Gas Project

PTTEP Energy Development Co. and Valeura Energy have taken a final investment decision on development of the Bussabong gas field in Block G3/65 in the Gulf of Thailand. The decision commits the partners to Phase 1, centered on the eastern portion of the offshore block.

Phase 1 will be built around two wellhead platforms. Each platform is designed with 24 well slots, giving the initial development a total of 48 available slots across the two planned installations.

The platforms will be installed in water depths of 75 m and 90 m. Their design specifications are consistent with those of other facilities operating in the Gulf of Thailand.

Production from Bussabong will be transported through a 9 km subsea pipeline with a diameter of 12 in. The pipeline will connect the development to the Bongkot field center in neighboring Block G2/61.

Bussabong gas will be processed at the Bongkot field center rather than at a new processing center within Block G3/65. Start up for the Phase 1 development is expected toward the end of 2028.

The field shares geological characteristics with other gas fields in the Gulf of Thailand. Its reservoirs are separated into multiple fault block compartments, a configuration that shapes the partners’ approach to development.

Valeura said those geological conditions favor a phased and repeatable development model. Phase 1 therefore represents the opening stage of a broader approach that could be replicated as the companies gain further information about the field and nearby prospects.

Before Valeura acquired its 40% interest as a partner to PTTEP, the Bussabong area had been comprehensively covered by 3D seismic data. The area also contained several other gas discoveries at that point.

Exploration work continued after that foundation had been established. A further successful exploration well was drilled in 2025, after which PTTEP and Valeura agreed to begin planning development of the field.

Thailand’s upstream regulator has approved a defined production area for Bussabong. That approval enables additional phased development intended to fully commercialize the field and the identified prospects within the area.

Any additional final investment decisions during the next few years will depend on delineation results. The partners plan to obtain those results through step out exploration and appraisal drilling, making future development commitments dependent on further subsurface information.

The two Phase 1 platforms should deliver around 30,000 cu ft/d in 2029. Output is then expected to rise to approximately 40,000 cu ft/d in 2030 as the development advances beyond its planned start up period.

The production profile provides a stated progression for the first two years following the expected late 2028 start. However, the source ties subsequent final investment decisions to drilling results rather than presenting them as already approved extensions of Phase 1.

The gas appears to be relatively dry. Valeura reported an expected condensate content of around 20 bbl for every MMcf of gas, defining the anticipated liquids component associated with Bussabong production.

PTTEP will engage with regulators and the gas purchaser to formalize a gas sales agreement. That work will proceed alongside preparations for the two platforms, the subsea pipeline connection and the targeted start of production toward the end of 2028.