• Horizon Oil approves Final Investment Decision for Nam Phong Booster Compressor Project in Thailand
• Project to install refurbished gas engine-driven compressor to enhance gas recovery and increase field output by at least 40%
• Rapid payback and material uplift in gas production expected

Horizon Oil Limited (Horizon) has announced that the Nam Phong Joint Venture has reached Final Investment Decision (FID) on the Nam Phong Booster Compressor Project, a strategic investment to enhance gas recovery at the recently acquired Nam Phong field in Thailand. The project will see the installation of a refurbished gas engine-driven compressor, using treated field gas as fuel. This configuration was selected for its cost-efficiency, shorter delivery time, and ability to unlock additional reserves. Once operational in mid-2026, the booster compressor is forecast to increase field output by at least 40%, depending on reservoir performance. All necessary pre-FID environmental and regulatory approvals are in place for this project. Production Solutions has been confirmed as the preferred vendor, with procurement and site preparation activities now underway. The project is expected to deliver strong returns, with rapid payback and a material uplift in gas production rates and volumes. Horizon's share of development costs will be less than US$1.5 million, which will be funded using Horizon's existing cash reserves and field production revenue.

The booster compressor project is expected to increase field output by at least 40% once operational in mid-2026.

Horizon is committed to maximising value from its existing assets while supporting Thailand's energy needs. The company is executing this low-cost project at pace, just months after acquiring the asset, demonstrating the team's focus and the strength of its partnerships.