Project Profile
Location: Blocks 05-1b and 05-1c, Nam Con Son basin, offshore Vietnam, ~350 km south east of Vung Tau City
Value: Undisclosed
Water Depth: 110-150 metres
Start-up Year: 3Q 2020
Dai Nguyet field is located off the coast of Vietnam in blocks 05-1b and 05-1c. Extensive 2D and 3D seismic surveys were conducted in the blocks in 2005 with additional 2D being obtained in 2007 and 2008. The first exploration well was drilled in 2007. Another was drilled in 2010 and confirmed the presence of oil and gas. Currently, Phase III exploration is underway with additional wells to be drilled. Idemitsu Oil & Gas confirmed the discovery of gas and condensate in block 05-1b and 05-1c off the coast of Vietnam. The Dai Nguyet 2X well, and subsequent sidetracks, were drilled by the Ocean Patriot (mid-water semisub) in 387 feet of water. Drilling commenced in August 2012 and TD was reached in January 2013. Drill stem tests were conducted from February through April 2013. Data gathered while drilling and testing will be used to perform a detailed reserve evaluation and to provide more insight into the potential of other prospects within the blocks.
Operators:
Idemitsu Oil & Gas: Operator with 43.08% interest
Teikoku Oil (a subsidiary of Inpex): 36.92% interest
PetroVietnam: 20% interest
Jadestone Energy (formerly Mitra Energy)*: 30% interest
*On February 22, 2018, Teikoku delivered to Jadestone a notice of termination of the SPA, despite Teikoku having received a waiver from Petrovietnam, of its statutory pre-emption rights, held under Vietnamese law. Jadestone has not accepted the termination, and views the obligations of both parties under the SPA as continuing.
Contractors:
Aker Solutions: a nine-month contract to provide front end engineering design (FEED) work for the development of oil and gas resources in the Nam Con Son basin offshore Vietnam. (July, 2016)
PetroVietnam Technical Services Corporation (PTSC)
Sub-contractors:
McDermott: Transportation and installation contract