Rosneft Vietnam B.V. and Japan Drilling Co. (JDC) represented by its subsidiary Hakuryu 5, Inc. signed an agreement to drill two wells in Blocks 06.1 and 05-3/11 in the Nam Con Son basin offshore Vietnam in 2016.
The wells will be drilled using the marine drilling rig HAKURYU-5, within the framework of Rosneft’s projects in Vietnam. It is consistent implementation of drilling works at both blocks will ensure synergy between the two projects and help reduce the timelines for implementation of the works, thus maximizing the efficiency of exploration activities at the company’s Vietnamese assets.
“We have always welcomed participation of high technology partners from Japan in implementation of the company’s projects. Despite the difficult macroeconomic situation, today we are expanding our cooperation in the area of exploration and production of hydrocarbons by executing contracts not only in Russia, but also in Asia Pacific,” Rosneft Chairman of the Management Board Igor Sechin said.
Rosneft Vietnam B.V. is the operator of Block 06.1 with 35% interest. The project is being implemented based on the production sharing contract (PSC). The PSC area comprises two gas condensate fields – Lan Tay and Lan Do. The fields are located 370km from the shore in the Nam Con Son basin, the sea depth at the fields reaches 190m. The initial gas reserves at the fields are about 68 Bcm. By June 2015, accumulated production from Block 06.1 reached 300 MMboe (or over 46 Bcm of gas).
Rosneft Vietnam B.V. operates and owns 100% of Block 05-3/11. The licensed block is located in the region with proven hydrocarbon potential and well-developed infrastructure that also borders with the already operated fields of Block 06.1. The current estimate of Block 05.3/11 reserves is 40 Bcm of gas and 9 million tons of gas condensate. 3D-seismic survey of 1180sq km and subsequent interpretation and studies have been completed, structures for exploration drilling activities in 2016 were defined.
Rosneft is also an investor with 32.67% equity in the Nam Con Son Pipeline – transporting gas and condensate from four offshore blocks in the Nam Con Son basin to power complex onshore –which creates a potential synergy in the event of discovery of commercial reserves in Block 05-3/11.
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