CRD partners reviewing offshore Vietnam gas options

Offshore staff

NORTH SYDNEY, AustraliaPanPacific Petroleum has issued an update on development planning for block 07/03 offshore Vietnam.

Operator Repsol (Talisman) should finalize plans for the CRD oil and gas discovery in either late 3Q or during 4Q 2015.

The preferred remains a tension leg wellhead platform linked to an FPSO, with first oil and gas targeted for the second half of 2018. Results of key tenders are due soon.

Currently the assumption is initial oil production of 30,000 b/d via six producer wells and four water injectors, with gas production peaking at 50 MMcf/d over six years from four producers, following ramp up, with additional “tail” gas sales potential.

However, gas exports depend on gas pricing and the availability of pipeline facilities which do not currently extend to CRD. Discussions on commercializing the gas continue with the Vietnamese authorities.

Potentially, the CRD project could recover 45.3 MMbbl of oil, 172 bcf of gas, and 2.3 MMbbl of condensate.

There is possible oil and gas upside at undrilled near-field prospects (North East CRD and West CRD), both of which could be tied into the facilities.

07/31/2015

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...