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Vietnam has exploited 10 million barrels of oil from the Sahara Desert

Vietnam has exploited 10 million barrels of oil from the Sahara  Desert - 

According information from PetroVietnam Exploitation and Production – PVEP, the GBRS a Joint Venture Company of PVEP has exploited 10 million barrels of oil at 433a and 416b lots under Bir Seba field in Sahara Desert (Algeria).

PVEP General Director Ngo Huu Hai is directing activities at Bir Seba - Algeria project.

Lots 433a and 416b of Bir Seba field in Sahara were put into operation on August 12, 2015. After more than 20 months of operation (until May 8, 2017) GBRS has exploited 10 million barrels of crude oil. This is the first oversea oil and gas project PVEP operates as a manager. The joint venture partners of the project are Algerian National Oil Company (Sonatrach), Thai Lan Petroleum Company (PTT).

The 433a and 416b Lots (Algeria) with a total reserve of about 1 billion barrels of oil have been operated since 2003. In the first stage the project will produce 20,000 barrels per day from its 13 wells. The second stage expects to be completed by 2019 with a total capacity up to 40,000 barrels per day.

Bir Seba field is also considered as a successful project with a high economic efficiency. At present, the production of the project is about 18,000-20,000 barrels per day with a cost lower than originally planned.

The PVEP and PVN won 433a and 416b lots through international bidding and directly managed them in exploration and evaluation process from 2003 to 2008.

This is the first time, the PV Drilling has brought its drilling rig abroad to Bir Seba field for drilling dozens of wells at 433a and 416b lots.

VietnamEnergy.vn

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