Vietnam steps up offshore oil, gas exploration
Eric Watkins
OGJ Oil Diplomacy Editor
LOS ANGELES, Apr. 27 -- The Vietnamese government is stepping up offshore exploration for oil and natural gas in the wake of recent discoveries along its coast.
PetroVietnam Exploration Production Corp. (PVEP) has begun a 2D seismic survey of Vietnam's central costal region using Seabird Exploration's Panama-flagged Aquila Explorer.
Along with four escort ships, the Aquila Explorer will conduct the survey through May 31 off Vietnam's Binh Dinh, Phu Yen, Khanh Hoa, and Ninh Thuan provinces.
On Apr. 20, PVEP said it discovered the country's largest gas field off the northern coast of Vietnam.
Tests conducted by PVEP and Petronas showed that wells drilled in Hac Long field, which lies off Thai Binh province, had flow rates of 400,000 cu m/day.
"This gas field has the largest output in northern Vietnam," said PVEP Chairman Tran Duc Chinh.
The announcement coincided with other reports that Talisman Energy Inc. plans to invest $1.1 billion to develop commercial production of two oil fields off Vietnam.
Vietnam's state-owned newspaper, Dau Tu, quoted Michael Horn, Talisman's representative in Vietnam, as saying the company would make the investment in the Hai Su Trang (White Sealion) and Hai Su Den (Black Sealion) fields.
The two fields, part of a larger joint exploration project between Talisman and Petrovietnam on Vietnam's offshore Block 15-2/01, would be put into commercial production by September 2011, said PVEP.
"The production from the two fields would help PetroVietnam maintain crude oil output in 2011 as well as ensure national energy security," the state firm said. PVEP estimates Hai Su Den field to hold 171.2 million bbl of oil and Hai Su Trang field to hold 59.6 million bbl.
Combined production from the two fields is estimated at 35,000 b/d, according to PVEP, which has a 40% stake in the joint venture, with operator Talisman holding 60%.
Contact Eric Watkins at [email protected].