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Block 11-2: History

(As of June, 2017)

Block Contract Area (km2) Working Interest (%) Operator Production (boed) Phase
11-2 PSC 691 39.75 KNOC 18,980 Production
 
* Boed stands for barrels of oil equivalent per day.
 
KNOC began its operation in Block 11-2 by signing a production sharing contract (PSC) in May 1992. After confirming gas reserves in the block through the drilling of three explorative wells, the company signed a tentative gas sales agreement with PetroVietnam to secure a stable sales channel in December 2004. It soon concluded a construction contract and placed a construction order, beginning full development of the block.
 
 
May 1992 Sign a PSC with PetroVietnam
Mar. 1998 Announce discovery of gas in Rong Doi and Rong Doi Tay
Mar. 2003 Announce commercial discovery of gas in these fields
Dec. 2004 Sign a contract and place an order for construction of platform and pipelines
Apr. 2005 Sign a gas sales and purchase agreement with PetroVietnam
Dec. 2006 Start gas production
13. Mar. 2014 Cumulative gas production reaches 10,000 mmscm (353 bcf)
17. Oct. 2014 Cumulative condensate production reaches 10 million barrels
25. Nov. 2014 Record no accident for seven years in a row
Jun. 2017 Produce gas at a rate of about 91 mmscfd
 
* Mmscm stands for million metric standard cubic meters; bcf, billion cubic feet; and mmscfd, million standard cubic feet per day.
 

Block 11-2: Outline

As the sole operator, KNOC carries out exploration, development, and production activities in Block 11-2, approximately 320 kilometers offshore Vietnam.


KNOC holds 75% of participating interest in this block on behalf of the Korean Consortium which consists of LG International Corp., Daesung Industrial Com., Daewoo International Corp., Hyundai Corp., Samwhan Corp., and Seoul City Gas Co. Ltd. PetroVietnam Exploration and Production Company (PVEP) holds the remaining 25% of the interest in the block.


Production began on December 25, 2006. The average daily production of natural gas from the seven production wells in the block reaches 91 million standard cubic feet. The block’s recoverable volume is 770 billion standard cubic feet. Production will continue until 2024.

 
Total reserves 626 bcf
Daily production 91 mmscfd
Production period 2007-2024 (17 years)
 
* mmscfd stands for million standard cubic feet per day
 
Department Contacts Updated
Updated : 2017-06-30 Department : Asia Business Dept. Contacts : +82)52-216-3106

Block 15-1: History

(As of June, 2017)

Block Contract Area (km2) Working Interest (%) Operator Production (boed) Phase
15-1 PSC 800 14.25 CLJOC 64,312 Production
 

Gas and oil was first discovered in Su Tu Den (Black Lion) in October 2000. This was followed by successive discoveries in Su Tu Vang (Gold Lion) in October 2001, Su Tu Trang (White Lion) in November 2003, and Su Tu Nau (Brown Lion) in September 2005.


Production of oil and gas from 61 wells in the three fields now reaches 81,000 barrels per day. The offshore facilities consist of a central processing platform (CPP), wellhead platforms (WHP-A to G), a floating production, storage, and offloading (FPSO) vessel, and pipelines. Oil is first processed in CPP and FPSO before being stored. KNOC purchased an FPSO with the storage capacity of 1 million barrels from Modec in 2008 after leasing it for a while.

 
Sept. 1998 Acquire exploration right to Block 15-1
Oct. 2000 Discover oil in Su Tu Den
Aug. 2001 Announce commercial discovery for Su Tu Den
Oct. 2001 Discover oil in Su Tu Vang
Oct. 2003 Start production in Su Tu Den
Nov. 2003 Discover oil in Su Tu Trang
Sep. 2005 Discover oil in Su Tu Nau
Oct. 2008 Start production in Su Tu Vang
Apr. 2010 Start production in Su Tu Den Northeast (SDNE)
Sep. 2012 Start production in Su Tu Trang
Oct. 2013 Start production in Su Tu Vang Northeast Field (SVNE)
Sep. 2014 Start production in Su Tu Nau (SN) and Su Tu Vang Southwest (SVSW)
Jan. 2017 Start phase 1 production in Su Tu Trang
 

Block 15-1: Outline

Production began in Black Lion in October 2003. Daily production of oil and gas from 37 wells in the field now reaches 19,000 barrels. Its offshore facilities consist of a wellhead platform (WHP-A), the FPSO, and 2.4 kilometers of pipelines. Oil is first processed and stored in the FPSO.


Gold Lion has 14 wells, from which 12,000 barrels of oil and gas is produced on a daily basis. Its offshore facilities consist of the CPP and WHP-D. The produced oil is stored in the FPSO after being processed in the CPP.


Development of the White Lion field was completed in September 2012 and a long-term production test program is now underway. 40 million standard cubic feet of gas and 6,000 barrels of oil are being produced.


Seven wells in Brown Lion produce 37,000 barrels of oil and gas per day. Oil and gas are exported to the CPP in the Gold Lion field and then processed there.


With production in the four fields expected to continue until 2023, the total recoverable volume of oil and gas is expected to reach 645 million barrels.

 
 
Ultimate total recoverable reserves 645 MMboe
Daily production 64 mboed
Production period 2003-2023 (20 years)
 
* MMboe stands for million barrels of oil equivalent, and Mbbl, million barrels.
 

Blocks 11-2 and 15-1: Significance and Outlook

Block 11-2 is KNOC’s first overseas operating project. Successful production in the Rong Doi and Rong Doi Tay fields marked a milestone not only for the company, but for Korea’s oil and gas industry. KNOC employees were involved in all stages of exploration, development, and production, including important negotiations, drilling, reserve estimation, and engineering and construction of offshore facilities. During the process, indigenous technologies of local companies were utilized.


Successful discovery and production in Block 15-1 is also a great achievement. KNOC actively participated in the development of the block from exploration to production. This is meaningful in that KNOC secured a significant amount of energy through aggressive participation in an overseas development, thereby contributing to the national energy security.


KNOC has obtained diverse technologies and knowhow related with upstream business (exploration, development, production, and distribution). Based on which, the company will win the competition to secure more oil around the world, which will help raise the country’s energy independence.

 
Department Contacts Updated
Updated : 2017-06-30 Department : Asia Business Dept. Contacts : +82)52-216-3108

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