Rosneft Finds Gas Offshore Vietnam

Published at 03:17PM - 12/08/16

Rosneft reported in its operating results for Q2-2016 and H1-2016 that it completed drilling operations at an offshore field in Vietnam through a local subsidiary of the Russian oil and company.

According to the company’s report, Rosneft Vietnam completed drilling at an offshore exploration well and made a discovery of a undisclosed volume of gas.

“Drilling operations carried out in the shelf of Vietnam from Hakuryu-5 semi-submersible drilling rig were completed in Q2-2016. Drilling operator is RN-Vietnam,” the company informed.

Rosneft Finds Gas Offshore Vietnam

The company added that the volume of gas condensate discovered is yet to be confirmed, but there are indications of a possible synergy with the Lan Tay platform, due to its proximity.

In June this year, Rosneft had signed a contract with the Vietnamese PV Oil providing for supplies of up to 1.5 million tonnes per year in 2017-2020 and up to 4.5 million tonnes per year in 2021-2040, with a total volume of 96 million tonnes.

Rosneft Finds Gas Offshore Vietnam
Rosneft gas exploration in Vietnam

Over the second quarter, Rosneft posted a daily hydrocarbon production rate of 5.22 million barrels of oil equivalent (boe) per day, a 0.2% increase compared to the first quarter of 2016.

Oil production grew by 0.5% while development drilling grew by 48% in the first half of the year, as planned. Gas production went up by 7% against H1-2015 due to new capacity.

The commissioning of new wells rose by more than 50% compared to the first half of 2015, reaching 1.2 thousand wells.

Rosneft Posts Progress on Arctic Licences

In the Arctic, the company started 2D and 3D operations at Albanovsky and Vostochno-Pribrezhny licence blocks in the Barents Sea and the Sea of Okhotsk during the first half of the year.

Preparation is currently underway for the full-scale exploration in licence blocks located in the Laptev Sea, East Siberia Sea, Chukchee Sea, Kara Sea, Barents Sea and the Black Sea.

Together with Statoil, Rosneft started drilling two exploration wells in the Sea of Okhotsk, having had started one development well in the area in April.