Substantial discoveries draw explorers to Vietnam.
BP, Conoco, Unocal and Talisman have discovered treasures offshore Vietnam that will help provide energy to a hungry Southeast Asia.
BP has staked its claim on the Nam Con Son Basin with a US $1.3 billion project, including a pipeline to shore to produce some 2 Tcf of gas from blocks 06.1 and 05.2. Gas from Lan Tay and Lan Do on 06.1 should begin producing to sales early next year.
In the same area, Hai Thach will produce from Block 05.1 and Moc Tinh from Block 05.3. Just west of these blocks, Korea National Oil Co. wants to develop Block 11-2 with an estimated 1.2 Tcf of gas resources (900 Bcf of recoverable gas) with plans to go on stream by early 2005.
Closer to the southeast coast of Vietnam in the Cuu Long Basin, Conoco is making its own waves with a Modec floating production, storage and offloading (FPSO) vessel planned for its Su Tu Den (Black Lion) field sitting on at least 200 million bbl of oil and possibly as much as 400 million bbl on Block 15-1.
To put that into perspective, Su Tu Den is Vietnam's second largest field after Bach Ho (White Tiger) at 256 million bbl. Bach Ho, also in the Cuu Long Basin in Block 15-2, has produced some 80% of Vietnam oil under Vietsovpetro management.
With Korean National Oil as a partner, it also has Su Tu Vang (Golden Lion) field and Su Tu Trang, which hasn't yet been drilled, in Block 15-1.
Su Tu Vang isn't as large as Su Tu Den at between 100 million and 400 million bbl, but it should produce at about the same rate.
It also has a 36% stake in the producing Rang Dong field in Block 15-1. A recent appraisal well in the field tested at 8,000 b/d of oil.
It owns 40% of Block 16-2 with that block's Bao Gam and Bao Vang prospects, and it has 70% of deepwater blocks 133 and 134, just east of Block 15-2.
North of Block 16-1 and south of Block 15-2, Soco International is drilling on Block 16-1 in the Cuu Long Basin southwest of Bach Ho and next will move to Block 9-2 south of Bach Ho. It has a commitment for two wells on each of the blocks.
Farther north along the east coast, Gazprom, the world's largest gas producer, plans a wildcat at its Bach Chi (White Lion) prospect in the Song Hong Basin, about 100 miles (161 km) north of the city of Da Nang. Its Block 112 could hold as much as 20 Tcf of gas in the White Lion, Zebra, Sky Lark, Seagull, Hangbird and White Elephant prospects.
North of the Gazprom tract, OMV spudded the HE-1X well in the Red River Basin's Tonkin Gulf.
Not all of Vietnam's production lies off the east coast. Another big play is off the southwestern coast between Vietnam and peninsular Malaysia. Two of the main beneficiaries of that play are Unocal and Talisman.
Unocal has a potential blockbuster in its recently announced three-field Kim Long, Ac Quy and Ca Voi complex in blocks 48/95B and 52/97 in the Malay Thochu Basin. It has drilled 10 successful wells on the properties and found 2.5 Tcf of gas. It estimates the gross resource potential in the two blocks at between 5 Tcf and 8 Tcf of gas and plans an initial 52-well program that could grow to 400 wells in all three fields between 2007 and 2010.
The company's proposed $1.5 billion project would include a shared platform and a 236-mile (380-km) pipeline to the Mekong Delta.
The 52/97-CV-3x well extended Ca Voi field and tested at 37 MMcf/d of gas. Nearby 52/97-AQ-5x in Ac Quy field penetrated 301 ft (92 m) of gas pay, according to Unocal. The company does, however, have a problem. The gas is between 20% and 30% CO2.
Talisman, Petronas and PetroVietnam have exploration rights to Block 46/02 some 100 miles (161 km) off the southern tip of Vietnam and east of the company's development in the PM-3 Commercial Development Area, a tract on the border between Vietnam and Malaysia with shared production. Block 46/02 has the potential for several small fields and could extend developed areas in PM-3.

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