The state-owned oil monopoly PetroVietnam group has to date pumped 1.4 billion barrels of crude oil from fracture basement reservoir, representing nearly 90 per cent of the total oil output by Vietnam’s oil and gas sector, the Newspaper of Industry and Trade reported.
Vietnam has been the only country that discovers many oilfields from fracture basement reservoir. Apart from the country's biggest oilfield, Bach Ho, PetroVietnam has found out and put into production a series of oilfields including Dong Rong, Rang Dong, Ru By, Dong Nam Rong, Phuong Dong, Su Tu Den, Su Tu Vang, Ca Ngu Vang, Su Tu Trang, Doi Moi, Su Tu Nau, Thang Long, Hai Su Den and Ho Xam.
The group today [Sept 9] will join hands with Society of Vietnamese Petroleum Geologists, Vietnam Association of Geophysicists, and Union of Scientific & Technical Societies of southern Ba Ria-Vung Tau province to hold a two-day international conference entitled "Fracture Basement Reservoir" in Vung Tau City.
The conference, the second of its kind to date, aims to mark 20th anniversary of oil production from fracture basement reservoir in the Bach Ho oilfield.
Over 600 leading scientists and specialists in oil and gas industry, petroleum companies, service companies and domestic firms from China, Russia, U.S., France, and Malaysia will attend the event.
PetroVietnam has set a target of finding new oilfields to ensure a potential reserve of between 35 million and 40 million tons of crude oil equivalents.
It plans to tap 25 to 35 million tons of oil equivalent a year, of which 18 to 20 million tons will be crude oil. It also aims to exploit between 6 billion and 17 billion cubic meters of gas per year.
Potential reserves of about 3 billion to 4 billion cubic meters of oil equivalent at 60 areas of petroleum potential have been discovered. Six of them have already been tapped.
At present, the company has seven overseas projects, two of which discovered petroleum fields in Malaysia and Algeria. (Industry and Trade, Vietnam & World Economy)
Vietnamese
