Vietsovpetro, a Vietnam-Russia oil joint venture, has started crude oil production at the Ca Tam field offshore southern Vietnam, Vietnamese state oil firm PetroVietnam said on Jan. 28.
Initial production from Ca Tam, jointly developed by Vietsovpetro, PetroVietnam Exploration Production Corp. (PVEP) and Bitexco Group, is 1,630 tonnes per day, PetroVietnam said in a statement.
The field in Block 09-3/12, 160 km (100 miles) southeast of Vietnam, is hooked up to the facilities in the nearby Block 09-1, which houses the country’s largest oil field Bach Ho, PetroVietnam said.
Ca Tam is the first new field to be brought into production in Vietnam in years after a 2014 plunge in oil prices slashed exploration. The start-up is significant as declining production from the country’s key fields has left it struggling to maintain oil and gas output.
PetroVietnam, formally known as Vietnam Oil and Gas Group, said earlier this month that tension in the South China Sea will continue to weigh on its offshore operations this year, adding that Ca Tam is one of the two offshore fields it expected to start commercial production this year.
PetroVietnam owns 51% in Vietsovpetro, while Russia’s Zarubezhneft owns the rest.
Recommended Reading
FERC Again Approves TC Energy Pipeline Expansion in Northwest US
2024-04-19 - The Federal Energy Regulatory Commission shot down opposition by environmental groups and states to stay TC Energy’s $75 million project.
Despite LNG Permitting Risks, Cheniere Expansions Continue
2024-02-28 - U.S.-based Cheniere Energy expects the U.S. market, which exported 86 million tonnes per annum (mtpa) of LNG in 2023, will be the first to surpass the 200 mtpa mark—even taking into account a recent pause on approvals related to new U.S. LNG projects.
Venture Global Seeks FERC Actions on LNG Projects with Sense of Urgency
2024-02-21 - Venture Global files requests with the Federal Energy Regulatory Commission for Calcasieu Pass 1 and 2 before a potential vacancy on the commission brings approvals to a standstill.
US Asks Venture Global LNG to Justify Filing of Confidential Documents
2024-03-13 - The FERC request comes days after Venture Global LNG customers had challenged the company's request for a one-year extension of its startup and urged the regulator to make Venture Global release the confidential commissioning documents.
Watson: Implications of LNG Pause
2024-03-07 - Critical questions remain for LNG on the heels of the Biden administration's pause on LNG export permits to non-Free Trade Agreement countries.