ty le ca cuoc 188bet Announcement
Blocks 01/97 & 02/97 covering areas of about 130 km2 are in the northeastern part of the Cuu Long basin, offshore of the Vietnamese continental shelf, approximately 160 km east of Vung Tau City. Water depths within these Blocks range between 60 - 70 meters.
Oil ty le ca cuoc 188bet gas production at existing fields commenced in 2014 under a Petroleum Contract for Blocks 01/97 ty le ca cuoc 188bet 02/97 (signed ty le ca cuoc 188bet effective in 2003). Because of the actual production rate ty le ca cuoc 188bet the oil ty le ca cuoc 188bet gas reserves of the field were under expected, the contractor income is not enough to cover the costs, investors declared an early termination of the petroleum contract in 2017 due to economic reasons ty le ca cuoc 188bet handed over operations to the host country.
From July 2017, Vietnamese Government designated Petrovietnam to continue the operation of Thang Long – Dong Do field (PVN ty le ca cuoc 188bet PVEP signed a temporary operating contract), current oil production rate is from 2.8 to 3.3 thousand barrels per day (the capacity is from 18 to 20 thousand barrels per day).
Currently, oil ty le ca cuoc 188bet gas activities in Block 01/97&02/97 are struggling with steeply declined production, the existing production facilities is degraded ty le ca cuoc 188bet need to be maintained with high operating expenditures (about 65 MMUSD/year). Unless significant improvements are made, including production improving ty le ca cuoc 188bet sustaining oil prices, continued operations seem unlikely.
With the aim of prolonging the production life of Blocks 01/97 ty le ca cuoc 188bet 02/97, it is imperative to implement an immediate investment solution ty le ca cuoc 188bet a strategic partnership with nearby discoveries for joint development to share the financial burden. Therefore, Petrovietnam is seeking letters of interest from investors, who adhere to the following fundamental requirements:
- Proven capacity ty le ca cuoc 188bet facilities (FPSO, personnel, financial capacity…) to optimize the current production of the Thang Long - Dong Do field, fostering collaborative development of potential hydrocarbon discoveries in the areas ty le ca cuoc 188bet integrating these discoveries into production stream to ensure maximum efficiency for the Blocks/related Petroleum Contracts on the following principles: (i) capital ty le ca cuoc 188bet operating cost sharing for existing infrastructure within Blocks 01/97&02/97; (ii) extending the effective production life of Blocks 01/97&02/97.
- Proven financial capabilities for additional exploration ty le ca cuoc 188bet appraisal activities ty le ca cuoc 188bet to commit 9-10 infill wells in a timely ty le ca cuoc 188bet cost control manner, maximizing revenue ty le ca cuoc 188bet benefits for Petrovietnam, to propose a commitment ty le ca cuoc 188bet schedule to drill from 01-03 infill wells in 2025.
- Possessing extensive experience ty le ca cuoc 188bet capabilities in handling the specific technical challenges associated with the operation ty le ca cuoc 188bet exploitation of Blocks 01/97&02/97: marginal field, heavy oil ty le ca cuoc 188bet H2S treatment;
- Be ready to assign high quality personnels to the project, with a specific focus on experience in upstream oil ty le ca cuoc 188bet gas exploration ty le ca cuoc 188bet production in Vietnam, especially in the Cuu Long basin;
- Propose an additional exploration & appraisal program ty le ca cuoc 188bet commitments (3D seismic, wells…) in the contract area.
- Be ready to enter petroleum contract in 2025.
Concerned parties should express their interest to Petrovietnam in writing (direct or fasimile) within 30 days from the date of this notification.
For more information, please contact to:
- Mr. Doan Thai Duong (Email: duongdt@pvn.vn), Deputy General Manager of Petroleum Contract Management Division of Petrovietnam ty le ca cuoc 188bet
- Mr. Le Hong Lam (Email: lamlh@pvn.vn), Deputy Manager of Petroleum Contract Management Division of Petrovietnam.
Best regards./.