Welcome to the third Party Congress of the Vietnam Oil and Gas Group - term 2020-2025.
Block 114 is located on offshore Vietnam's northern continental shelf. It is a part of the Hong river basin, about 65km from Quang Tri province and 86km from Da Nang city. Block 114 is in the exploration phase, operated by Eni Vietnam B.V, which holds 50% share, while ESSAR E&P Limited holds the remaining 50%.
In May 2019, the exploration well 114-Ken Bau-1X was drilled, reaching a total depth of 3,603m and meeting all expected product reservoirs with good oil and gas signs. On 29 February 2020, a test well 114-Ken Bau-2X was holed 2 km from the first well 1X. The drilling took 150 days, reaching a depth of 3,690m and encountering a number of reservoirs with a total width of 110m in several intervals of Miocence sandstones.
Figure 1:Well 114-Ken Bau 2X (29/07/2020)
Eni Vietnam B.V Operator has carried out 2 seam space test and collected extensive data on fluid samples showing significant hydrocarbon accumulation at the Ken Bau discovery. With the results of 114-Ken Bau-2X drilling well, PVN has completed its plan to increase reserves by 2020.
Figure 2:The happiness of discovering new reservoir (29/7/2020)
Exploration findings at Ken Bau-2X drilling wells in 2020 and Ken Bau-1X drilling wells in 2019 have affirmed the potential of oil and gas reserves in Ken Bau structural area in particular, Block 114 area and the neighboring blocks in general.
With this result, Lot 114 PSC Contractors (Eni Vietnam BV and ESSAR E&P Ltd) are developing an overall assessment plan for Ken Bau discovery in the coming years and for exploratory drilling similar structures at the Contract Block. After that, Eni Vietnam B.V. will establish the reports on the reserve and development of the fields. It is expected that Ken Bau discovery can be put into operation from 2028. This is an extremely important premise for the further petroleum exploring and development activities at Block 114 and neighboring areas, contributing to the strong development of the gas power industry and gas products in Quang Tri - Thua Thien Hue regions and Central Vietnam.
This success is considered a spotlight to welcome the third Party Congress of PVN, term 2020-2025 and makes an significant contribution to ensuring the national energy security as well as the sustainable development of Vietnam's oil and gas industry in the future.
