Perenco owns three companies in Vietnam. The companies hold a 23.25% participating interest in Block 15-1, a 36% participating interest in Block 15-2 and a 16.33% participating interest in the Nam Con Son Pipeline. Gross production from these companies is circa 65 000 boepd.
Located 160 miles offshore southeast of Ho-Chi-Minh City, Block 15-1 is in the Cuu Long Basin. Production from Su Tu Den Field began in late 2003. Su Tu Den crude oil is processed and stored in the one million barrels Thai Binh Vietnam FPSO vessel. Production from Su Tu Trang gas/condensate field started in September 2012.
The partnership is now focusing on additional developments in the Basement reservoir: Su Tu Vang North East started crude oil production in October 2013, Su Tu Vang South West and Su Tu Nau for production by November 2014. Su Tu Nau is a significant new development including two platforms and around 12 wells in a first phase, for start-up delivery in 2014 estimated at 50 000 bopd.
Block 15-2 contains the Rang Dong Field, which is also in the Cuu Long Basin. Rang Dong crude oil is stored in the MV-17 FSO, where it is offloaded to tankers for export. The first half of 2013 saw significant drilling activity on this block with the completion of a total of five wells. The Block 15-2 PSC was approved for an extension of five years till April 2025. This has opened up the route to a significant EOR Hydrocarbon Gas re-injection project sanctioned in second quarter 2013. This ambitious EOR project is a first in Vietnam and is paving the road for incremental production and benefits in the coming years.
The Nam Con Son Pipeline is a 777 MMscfd, 400 km transportation system linking natural gas supplies from the Nam Con Son basin to the country's largest gas market in southern Vietnam. The infrastructure consists of a 26-inch, 450-km-long offshore pipeline segment delivering wet gas to the gas processing plant located at Dinh Co, Ba Ria-Vung Tau province, where the liquid is separated, the gas is conditioned to meet sales specifications and is redelivered via a 30-inch, 30-km-long onshore pipeline segment to the Phu My gas distribution center. The fourth shipper (Blocks 05-2/05-3) delivered first gas into the system in September 2013. 2013 was the second year in a row Nam Con Son Pipeline achieved 100% reliability.