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History

Block 06.1, Vietnam

As part of the acquisition of TNK-BP in 2013, PJSC NK Rosneft is the operator in a joint project for gas and condensate production and exploration offshore projects in Block 06.1 in the Nam Con Son Basin (Rosneft Vietnam B. V.  - 35%, ONGC - 45%, PVN - 20%) in the Socialist Republic of Vietnam. The project is implemented on the basis of a Production Sharing Agreement (PSA). The PSA is valid until 2023 with the option of an extension for 5 years.

There are two gas condensate fields on the PSA site - Lan Tai and Lan Do with initial gas reserves of 67 billion m3. The fields are located at a distance of 375 km from the shore, the depth of the sea in the area of work is about 130 meters. The field features the Lan Tai rig which is used to control wells and treat gas; a compressor is installed on the rig, as well as living quarters. Production at the Lan Tai field is carried out by 5 wells with underwater wellhead complexes connected by a single reservoir to the rig. Two wells with underwater wellhead complexes connected to the Lan Tai rig were drilled at the Lan Do field.

Gas and condensate have been produced since 2002. In 2016, production at Block 06.1 in the share of Rosneft amounted to 0.6 billion cubic meters, condensate production - 15.9 thousand tons.

In March 2016, an exploratory well was drilled on the PLD structure of Block 06.1; tests were carried out in early April; work on the well was completed on April 11, 2016. Based on the drilling results, commercial gas reserves of 3.4 billion cubic meters of gas were discovered (recoverable reserves). In November 2016, the stock assessment report was approved by the relevant Vietnamese authorities. The discovered stocks can be developed using the existing infrastructure of Block 06.1. In June 2016, offshore 3D seismic exploration work in the volume of 965 sq. km purposed to map out deep-lying prospective geological objects to insure further organic growth were completed.

 In June 2017, Rosneft Vietnam B. V.: Reached important operating indicators - 15 years of accident-free work, which corresponds to 30.3 million man-hours of accident-free production, without the loss of staff capacity. This indicator is one of the best in the industry.

Also, PJSC NK Rosneft is a participant in the Nam Con Son pipeline project for transportation and treatment of gas and gas condensate from offshore blocks in the Nam Con Son Basin (Rosneft Vietnam Pipelines B.V. - 32.67%, Perenco - 16.33%, PVN - 51%). The project is being implemented on the basis of the Business Cooperation Agreement. The agreement is valid until 2035 and has an extension option.

Through the Nam Con Son pipeline, gas and condensate are transported from the Nam Po Con Son Basin to the Dinh Co Coast Terminal, where gas and condensate are prepared for the consumer The flow capacity is 7.7 billion cubic meters per year, the pumped volume in 2016 was about 7 billion cubic meters (the products of Block 06.1 and other operators of the Nam Con Son Basin are pumped).

In May 2013, the Company signed a production sharing agreement for the development of Block 05.3/11 (the project is at the geological exploration stage). The first exploratory well (ССТВ structure) was completed by drilling on June 2, 2016. According to the current license obligations, the Company is obliged to drill a second exploratory well. Drilling of the second exploratory well in the TTN structure is scheduled for the first half of 2018.

In 2016, the Ministry of Industry and Trade of Vietnam awarded Rosneft Vietnam the title of Operator of the Year (2016).