Salamander Energy - Re: SMDR Stream Log - Salamander Energy, the South East...

Salamander Energy, the South East Asia-focused oil and gas producer, said the Suksan Salamander floating storage and offtake vessel at the Bualuang field in the Gulf of Thailand has received first oil. The company, said the latest development marked the peak of the redeveloping process to the site, which extended the field's productivity, as well as increasing the potential production rates. Salamander said it was planning to cut its operating costs at Bualuang by $25m per year. "We have upgraded production infrastructure in the Bualuang field on both time and budget. The new facilities enhance the value of the field, minimise the risk of future downtime and mean we are well positioned for the next phase in the field's growth," said James Menzies, the company's chief executive. Salamander shares rose 2.40% to 106.50p at 12:23 on Tuesday.