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Crude Oil Production in Vietnam
- By Oil and Gas Author
- Published 09/4/2006
- Crude Oil Petroleum , Natural Gas Petroleum , Exploration and Discoveries , Liquefied Natural Gas LNG , Petroleum Pipeline
- Unrated
Oil and Gas Author
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View all articles by Oil and Gas AuthorExploration in Vietnam continues to yield new discoveries. In 2002, large Oil and gas deposits were discovered in the Ca Ngu Vang (Golden Tuna) and Voi Trang (White Elephant) fields. SOCO Vietnam estimates that its Ca Ngu Vang Well may contain up to 250 million barrels of oil. In July 2004, VSP discovered new stocks of oil in its Dragon field. Three months later, a joint venture comprised of American Technologies, Petronas, Singapore Petroleum, and PetroVietnam announced a 100-million-Barrel oil discovery off Vietnams northeast coast. In September 2004, the Vietnamese government offered nine exploration blocks in the Phu Khanh basin off its southern coast. In November 2004, Japanese oil companies Nippon Oil Exploration, Idemitsu Kosan, and Teikoku Oil signed an agreement to explore in two offshore blocks southeast of Ho Chi Minh City. They plan to drill a test well in 2006 and complete exploration by 2007. In December 2004, Talisman Energy was awarded the right to conduct exploration in the Cuu Long Basin, and received additional acreage in an adjacent area in April 2005. ONGC of India was awarded drilling rights in the deepwater Block 127 in the Phu Khanh Basinoff Vietnams central coast in October 2005. ChevronTexaco also received acreage in the Phu Khanh Basin in the most recent round of awards, with an award for Block 122 in October 2005. PetroVietnams storage and transportation division, Petrolimex, recently completed a new oil storage facility in the central Khanh Hoa province. The depot is largest in the country, with a total storage capacity of 3.68 million barrels.
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