Vietnam-Malaysia JV Welcomes First Oil from Thang Long Field
21:59 | 10/06/2014
Six wells began production at Thang Long field, PetroVietnam Exploration & Production Corp. (PVEP) said in a statement posted on its website on June 9.
Dong Do field is 5 kilometers northeast of Thang Long field, which is 160 km east of the southern province of Ba Ria Vung Tau.
The two fields are located in 01&02/07 blocks of Cuu Long basin, about 80 km (50 miles) northeast of Vietnam’s biggest oil field Bach Ho, 26 km from Ruby field, 30 km from Topaz field and 20 km from Rang Dong field.
Lam Son JOC, an equally-owned venture between PVEP and Petronas Carigali Overseas Sdn. Bhd. (PCOSB) of Malaysia, plans to use two wellhead platforms and a floating production, storage and offloading unit at the two fields.
Unofficial sources said production at the Thang Long and Dong Do fields may peak at 12,000-15,000 bpd. Oil production at these fields is expected to partially help Vietnam cope with a steady fall in oil output.
The Business Monitor International has predicted that Vietnam’s total crude oil and liquids output will rise in the short term as new fields are brought online or are ramped up to peak production levels.
This could push production up from an estimate of 377,450 barrels per day (bpd) in 2013 to 426,170 bpd by 2016. However, this spell will end in 2017 unless further fields are developed. BMI therefore expects production to decline from its 2016 peak to 373,560 bpd by 2023.
Vietnamenergy.vn
