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Vietnam's Su Tu Vang SW contracts in place

By  Monday, 07 July 2014 08:48
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Su Tu Vang SW field schematic; image from Korea National Oil Corp.Cuu Long Joint Operating Co. (CLJOC) has finalized a turnkey EPCI contract for a new tripod for the Su Tu Vang Southwest project with PetroVietnam Technical Services Corp. (PTSC) Mechanical & Construction Co. Ltd.

The contract was initially announced 12 November 2013, when CLJOC issued a letter of intent, and was signed on 20 June 2014. The scope of the project includes engineering, procurement, construction, transportation and installation, hook up and commissioning of the 2000 ton Su Tu Vang Southwest platform.

PTSC M & C completed the engineering, procurement, construction, transportation and installation of Su Tu Vang Southwest’s jacket in only 106 days, a record for jacket fabrication in Vietnam’s oil and gas industry. PTSC is working on the topsides, scheduled for completion, load-out, transportation, and offshore installation in September 2014. First oil from the project is projected for late 2014.

The Su Tu Vang or "Golden Lion" oil field is in offshore Block 15-1, southeast of Vietnam’s Ba Ria-Vung Tau province. It has 12 wells tied to a central processing platform (CPP), producing 9000bo/d, which is exported to an FPSO.  The Su Tu Vang Southwest field development will also tie to the CPP.

CLJOC acquired operating interest in Block 15-1 in September 1998, discovered the Su Tu Vang field in October 2001, and began production in September 2008, followed by first production from Su Tu Vang Northeast in October 2013. The Su Tu Vang field is in the Cuu Long basin, a tertiary rift basin covering 25,000sq km, and is 6km from the Su Tu Den ("Black Lion") field.

CLJOC is a joint venture between PetroVietnam Exploration and Production Co., ConocoPhillips, Korea National Oil Corp., SK Energy, and Geopetrol. This may change, as PetroVietnam signed a memorandum of understanding with Rosneft in November 2013, for Rosneft to potentially acquire a stake in the production sharing agreement (PSA) for Block 15-1/05.

Image at right from Korea National Oil Corp., showing Su Tu Van SW wellhead platform in red.

Related stories:

Northeastern Golden Lion Draws First Oil, 1 December 2013

Rosneft, PetroVietnam reach exploration agreement, 25 November 2013

Brown Lion joins pride, 24 October 2010

A $1 billion Golden Lion roars ... , 1 February 2009

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