Calgary-based operator Valeura Energy has secured a much-needed supplier of a floating storage and offshore (FSO) vessel for its Wassana oilfield redevelopment in the Gulf of Thailand.

Valeura has been in negotiations with FSO suppliers for several months, and revealed in its latest financial results it had signed a contract with Indonesia's Buana Lingas Lautan (BULL) to charter the MT Vula tanker as an FSO.

The two parties have agreed on key terms and are finalising the remaining commercial terms by way of a formal charter agreement.