The Sao Vang and Dai Nguyet gas and condensate field is located in Blocks 05-1b and 05-1c in the Nam Con Son Basin
Idemitsu Kosan operates the Sao Vang-Dai Nguyet gas and condensate field. (Credit: C Morrison from Pixabay)
Vietnam’s state oil firm PetroVietnam Gas has reportedly commenced gas production from the Sao Vang-Dai Nguyet field offshore Vietnam.
The Sao Vang and Dai Nguyet gas and condensate field is located in Blocks 05-1b and 05-1c in the Nam Con Son Basin. The blocks cover an area of approximately 1,570km² and lie in water depths of 120m.
The Vietnamese government approved the field development plan of the Sao Vang and Dai Nguyet field in 2017.
Idemitsu Kosan operates the Sao Vang-Dai Nguyet gas and condensate field with 43.08% stake while its partners include Teikoku Oil (Con Son) with 36.92% stake and PetroVietnam with 20% interest.
Two fields to produce 1.5 billion cubic metres of gas per annum
As per the estimates, the fields will produce up to 1.5 billion cubic metres of gas annually and 2.8 million barrels of crude oil and condensate per year.
The start of gas production from the fields comes as the country struggles to maintain its oil and gas production while relying majorly on imports, reported Reuters.
Production from the field is supplied to onshore facilities in Vung Tau province via PetroVietnam Gas-operated Nam Con Son 2 Gas Pipe, according to the news agency.
In 2018, McDermott International secured transportation and installation subcontract for the Sao Vang and Dai Nguyet gas and condensate field development.
The subcontract involved the provision of transportation and installation services for the central processing platform jacket, topside float-over, wellhead platform, flexible pipelines, subsea power cables and auxiliary services.
In October, Reuters reported that US-based power company AES is set to sign a deal with PetroVietnam Gas to develop a $2.8bn LNG import terminal and a power plant in Vietnam.