PetroVietnam fulfils 2020 increase to oil and gas reserves
The Vietnam Oil and Gas Group (PetroVietnam) has announced that its exploration of the Ken Bau-2X well, located in the Red River Basin offshore of Vietnam’s northern continental shelf, helped the firm fulfil its plan of increasing oil and gas reserves in 2020 ahead of schedule.
PetroVietnam fulfills yearly production targets ahead of schedule in 2018. (Photo: pvn.vn)
Hanoi (VNA) - The Vietnam Oil and Gas Group (PetroVietnam) hasannounced that its exploration of the Ken Bau-2Xwell, located in the Red River Basin offshore of Vietnam’s northern continentalshelf, helped the firm fulfill its plan of increasing oil and gas reserves in2020 ahead of schedule.
Eni VietnamB.V - the operator of the project - and its partner ESSAR E&P each holds 50percent of the exploitation contract.
In 2020, Ken Bau-2X was drilled 2 km away from the first Ken Bau-1X. The well washoled on February 29, 2020 and constructed within 150 days.
Eni Vietnam B.V conducted two mini drill stem tests (DST), collecting a lot of fluidsampling, which shows significant hydrocarbon accumulation at the well.
Exploration findings at Ken Bau-2X in 2020 and Ken Bau-1X in 2019 affirmed theexistence of oil and gas reserves in the areas and adjacent blocks.
Eni and ESSAR E&P are building an overall appraisal plan for exploiting oiland gas in the areas and drilling for exploration at similar structures in the contracted block.
It will prepare a reserve report and a mine development report. It isexpected that Ken Bau-1X and 2X will be put into exploitation from 2028.
PetroVietnam said this is a crucial premise for exploration activities as wellas further exploitation in the surrounding areas, contributing to stronglypromoting the gas power industry and gas products in the central region.
It is also expected to contribute to ensuring national energy security andpromoting the sustainable development of Vietnam’s oil and gas sector in thefuture.
🔯 Eni is an integratedenergy company engaged in oil and natural gas exploration, field developmentand production, and the supply, trading, and shipping of natural gas, LNG,electricity, and fuel. It has been present in Vietnam since 2013 and currently operates four blocks, all located in theunderexplored Song Hong (Red River) and Phu Khanh basins, offshore of centralVietnam./.
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PetroVietnam fulfills yearly production targets ahead of schedule in 2018. (Photo: pvn.vn) 
