State-owned PetroVietnam has just welcomed the first flow of gas from Su Tu Trang (White Lion) oil field in phase 2A, putting the project into operation 16 days ahead of schedule.
|Leading PetroVietnam officials at the ceremony |
Amid the complicated developments of the pandemic, an online ceremony has marked the establishment of the first flow of gas from Su Tu Trang (White Lion) oil field, featuring the presence of PetroVietnam's top leaders, including chairman Hoang Quoc Vuong, CEO Le Manh Hung, leaders of associated units, and representatives of relevant foreign partners.
Addressing the ceremony, PetroVietnam’s general director Le Manh Hung said Block 15-1 was the flagship in Vietnam’s oil and gas exploitation activities, bringing benefits to all involved parties, and contributing about $10.4 billion to state coffers.
|The White Lion oil field is one of the areas with the highest potential for oil and gas reserves in Vietnam’s continental shelf. |
PetroVietnam highly valued the efforts of Cuu Long Joint Operating Company (JOC) and its partners to complete the drilling of the well on schedule, ensuring their commitments in the gas purchase, sale contract, and field development plan.
General director Le Manh Hung lauded the important event and said he expects the parties to continue nurturing talent, enthusiasm, and solidarity to attain even bigger successes in the time to come.
JOC’s general director Nguyen Van Que attributed the success of the project to the efforts of the company's leadership, entire staff, and related partners, along with the maximum support from PetroVietnam Exploration Production Corporation (PVEP) and relevant ministries.
On behalf of foreign partners, president of Perenco Vietnam Gilles d’Argouges said this was an important achievement and a symbol of successful cooperation between Vietnamese businesses and foreign partners.
He stressed that the partners have found a common development path and expressed hope to maintain success in the process of developing the White Lion oil field and the entire project.
Timely exploitation at White Lion oil field in stage 2A is deemed as one of the important watersheds helping PetroVietnam to maintain and bolster its oil and gas exploitation plan approved by the government, further replenishing supply sources, ensuring energy security, and driving national economic development.
Welcoming the first flow of gas from White Lion field is a meaningful event of PetroVietnam, PVEP, and JOC to celebrate the upcoming 60th anniversary of the traditional day of Vietnam’s oil and gas sector on November 27.
|Awarding of certificates of merit to best-performing collectives and individuals at the White Lion project |
Marking the occasion, PetroVietnam gave certificates of merit to the best-performing individuals and organisations for excellent achievements in deploying the White Lion project in stage 2A which pumped out the first flow of gas 16 days ahead of schedule and reached 92,007 safe operating hours.
The White Lion field is located in Block 15-1 of the Cuu Long Basin off the southern coast of Vietnam. It is considered one of the richest oil and gas reserves in Vietnam’s continental shelf. It is located about 62km off the coast of Vung Tau with a water depth of 56m.
The oil and gas exploration contract of Block 15-1 was signed in 1998 between PetroVietnam and the contracting parties, including PVEP, Perenco, KNOC, SK and Geopetrol. The project is operated by JOC.
The plan to develop phase 2A of the White Lion oil field was approved by the prime minister in December 2019, with a total expected consolidated capital expenditure investment of nearly $138 million. The task involves drilling three additional wells (two secure and one provisional) with expected recovered reserves reaching 63 million condensate barrels and 193 billion cubic feet of gas by the end of September 2025.