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Exploration activities for petroleum started in the
early 1960s in the Song Hong Delta, northern Vietnam,
with assistance from the former Soviet Union. By late 1970's,
almost 40 wells had been drilled in the region, however,
only one small gas field has to be commercially developed.
At the same period, exploration was also conducted in
the southern continental shelf through concession agreements
signed with international oil companies including Mobil, Esso, Pecten, Marathon, and Texas Union. Regional seismic
surveys were performed over prospective areas and exploratory
wells were drilled with positive results, of which the
most important was the discovery of commercial oil by
Mobil in the Bach Ho (White Tiger) prospect, in the Cuu
Long Basin. This confirmed the obvious petroleum potential
in the continental shelf of Vietnam. |
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Following
the re-unification of the country in 1975, the first Petroleum
Sharing Contracts (PSC) were signed between PetroVietnam
and foreign contractors to further explore for petroleum
in the southern offshore area. Although there were some
minor oil and gas shows, all of these agreements terminated
in 1980. The subsequent period was marked only by the
establishment of the Vietnam's first exploration and production
enterprise, Vietsovpetro, a joint venture between PetroVietnam
and RVO Zarubezneft (Russia) in 1981 to carry out petroleum
operations in the Cuu Long Basin with Russian-supported
equipments and technology. |
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The
Foreign Investment Law of Vietnam decreed in 1987 marked
a milestone in the development of the industry. Since
1988, under the green light of the "open door"
policy of the Government of Vietnam, petroleum activities
in the country stepped forward to a new era. Exploration
and production have been increasing in the whole continental
shelf of Vietnam. To date, PetroVietnam has signed
37 Petroleum Sharing Contracts (PSC), 1 Business Cooperation
Contract (BCC) and 7 Joint Operating Contracts (JOC) with
more than 50 international oil and gas companies, accounting
for over USD 4 billion investment. Currently, there are
25 remaining effective petroleum contracts involving international
companies including RVO Zarubezneft, BP, Conoco, Unocal,
Nippon Oil, Petronas, OMV, Idemitsu, KNOC, Talisman, Amerada
Hess, Samedan, Pertamina, PTT E&P, ONGC, Maurel&Prom,
ATI, Vamex, Soco, MOECO and OAO Gazprom. |
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For
a period of almost 40 years of exploration, large amount
of seismic, well and related geophysical and geological
database has been acquired all over the potential basins
of Vietnam. More than 260,000 line kilometers of 2D seismic
and 15,000 km2 of 3D seismic have been acquired and around
200 exploratory wells totaling approximately 500,000 depth-meters
have been drilled. The success ratio for oil and gas found
is approximately 50% with 18 oil and gas fields among
50 hydrocarbon-bearing prospects discovered throughout
the continental shelf. |
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Production
Summary |
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Oil
Production |
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In
June 1986, Vietnam's first oil was produced by Vietsovpetro
from the Bach Ho oil field. Until late 1994 when the Dai
Hung and Rong fields came on-stream, that was the country's
only producing field. Currently, Vietnam produces an average
of 342,000 barrels per day (bopd) from six oil fields: |
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| Field |
Basin |
Operator |
Average
Production
|
| Bach
Ho |
Cuu Long |
Vietsovpetro
|
256,000
bopd |
| Rong
|
Cuu Long |
Vietsovpetro
|
12,000
bopd |
| Dai
Hung |
Nam
Con Son |
Vietsovpetro
|
3,000
bopd |
| Rang
Dong |
Cuu Long |
JVPC
|
43,000 bopd |
| Ruby |
Cuu Long |
Petronas |
21,000 bopd |
| Bunga
Kekwa* |
Malay-Tho
Chu |
Talisman
|
14,000 bopd |
| (*)
Vietnam's share is 50% of total field production |
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Supported
by the recent discovery of Su Tu Den-Su Tu Vang, a large
oil field in Block 15-1, Cuu Long Basin, the country's
oil production is expected to rise up to 450,000 bopd
beginning 2004. |
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Gas
Production |
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Vietnam's
natural gas sector is still in the early stages of development.
Except for gas produced from a minor gas field, Tien Hai
C in the Hanoi Onshore Basin (onshore part of the Song
Hong Basin) for local consumers, the major source for
the country's gas demand to date is associated gas produced
from the Bach Ho and Rang Dong fields in the Cuu Long
Basin, and brought ashore through a 107 km 16" offshore
pipeline. At present, the average associated gas output
is 165 mmcfd and can be expanded up to 200 mmcfd.
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As
the country's demand for energy continues to expand, gas
will play an increasingly important role. In the near
future, the Nam Con Son and Malay-Tho Chu Basins are two
major gas supply centers. The Nam Con Son pipeline system
with nominal capacity of 250 bcf per year will bring gas
from the Lan Tay-Lan Do field in Block 06-1 to shore from
the end of 2002 and is capable of connecting with other
gas fields including Rong Doi-Rong Doi Tay and Hai Thach-Moc
Tinh. The Southwest pipeline system, comprising two pipelines
from Block PM3-CAA and Block B with total capacity of
220 bcf per year, are scheduled to be completed by 2005
and 2007 respectively. The gas will be distributed to
a series of power and petrochemical plants in the Cuu
Long Delta provinces. Non-associated gas production is
planned to be 250 mmcfd in 2003, 550 mmcfd in 2005 and
more than 1,000 mmcfd from 2010.
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