The Vietnam Oil and Gas Group (Petrovietnam, PVN) has announced two new oil and gas discoveries at the Rồng field and Bunga Aster field.

According to information released by PVN on May 6, during the first four months of the year, the Group made two significant discoveries at well R79 in the Rồng field, Block 09-1, and at well BA-1X in the Bunga Aster field, Block PM3 CAA.

At well R79, the Vietnam-Russia joint venture Vietsovpetro (VSP) conducted reservoir testing and obtained a self-flowing oil stream with a flow rate of nearly 6,300 barrels per day. Preliminary evaluations estimate that the potential in-place oil at the site could reach approximately 16.5 million barrels, with an additional estimated reserve from well R-79 of about 4.6 million barrels.

At well BA-1X, preliminary calculations estimate in-place reserves at around 84 million barrels (nearly double the initial forecast), with an expected increase in total reservoir reserves of approximately 20.2 million barrels.

Notably, well BA-1X began production on May 5, 2024, with an initial production rate of about 2,100 barrels per day. In the coming time, the operator of Block PM3 CAA will continue to appraise the Bunga Aster oil discovery to obtain a more accurate assessment of the oil reserve potential, aiming to expand development and maximize resource recovery at the field, thereby increasing oil and gas recovery for Block PM3 CAA.

PVN stated that these discoveries open up important directions in exploration and production, contributing to the stability and development of PVN. By optimizing the use of existing infrastructure, these resources can be quickly and easily brought into production, maximizing the recovery of valuable resources.

The success and immediate production of well BA-1X, similar to the Bunga Lavatera-1 well in 2023, provides a valuable lesson for contractors in other blocks and fields, encouraging them to adapt, leverage resources, and optimize development and production as quickly as possible.

According to Mr. Lê Mạnh Hùng, Chairman of PVN, the E&P (exploration and production) sector has faced many difficulties and challenges in recent years due to natural production declines and a lack of new discoveries. He emphasized that continued new discoveries will provide additional momentum for the E&P sector to maintain its goals for 2024 and beyond, supporting the Group's strategic development and making a significant contribution to national energy security and economic development.

Source: Vietstock