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UPDATE 1-Salamander suspends production at Bualuang field, shares fall
January 8, 2014 / 9:18 AM / in 4 years

UPDATE 1-Salamander suspends production at Bualuang field, shares fall

* Sees 2014 output forecast unchanged

* Expects to restart production around Jan 25

* Shares fall 4 pct

Jan 8 (Reuters) - Salamander Energy Plc said production from its key Bualuang oil field in the Gulf of Thailand has been suspended due to a damaged production riser - a pipe used in extracting oil, sending its shares down 4 percent.

The Southeast Asia-focused oil and gas company said it expected to restart production at the field around Jan. 25.

However, the company said its overall production forecast for 2014 remained unchanged with the output expected to average between 13,000 and 16,000 barrels of oil equivalent per day (boepd).

The company said in December that production from Bualuang averaged about 12,300 barrels of oil per day (bopd) for 2013.

The oil and gas producer said the production riser was damaged during bad weather when a floating production, storage and offloading (FPSO) unit drifted and came in contact with it.

Salamander said inspection work and repairs were underway and that there were arrangements for a new production riser to be fitted, if required. It also said it did not expect to incur any significant repair costs.

Salamander shares were down 3.5 percent at 110 pence at 0904 GMT on the London Stock Exchange on Wednesday.

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