Geologic exploration

The Block 16-1/15 (S=3107 km2) is located in the western part of Cuu Long basin offshore Vietnam in 80 km south-east of Vungtau city, the eastern border of the block is adjacent to the Block 09-1.

The oil and gas occurrence prospects are associated with the Oligocene-Miocene deposits and crystalline basement rocks.

On May 16, 2016, in the framework of the “Block 16-1/15 offshore SRV exploration and development” project a PSA betweenPetrovietnam OGC, JV “Vietsovpetro”, PVEP, BITEXCO and SOVICO was signed with the following distribution of participating interests: JV “Vietsovpetro” – 51%, PVEP – 29%, BITEXCO – 10%, SOVICO – 10%. JV “Vietsovpetro” was nominated to be the operator of the project.

Zarubezhneft JSC jointly with the Cuban oil and gas corporation Cupet have been implementing the project for integration of the enhanced oil recovery methods at the heavy high-viscosity bituminous oil Boca de Jaruco since 2011.

Currently stage of pilot development of the Formation M is being implemented at the field. The operations at this stage include cyclic steam treatment, production of super-heavy oil and assessment of the steam and thermal methods application.

The new developments and technical solutions of Russian producers as well as the front-end new equipment capable of operating in aggressive environments at high temperatures are engaged in the project implementation which has already positively resulted in flows of heavy high-viscosity oil.

The Lutseyakhskoye oil field with the area of 360.8 km² is located in the Nadymsky District of the Yamalo-Nenets Autonomous Area. The Lutseyakhskoye field was discovered in 2011 after drilling a prospecting appraisal well No. 70-Lutseyakhskaya.

In June 2016, a Sales and Purchase Contract was concluded between DEDACI ENTERPRISES LIMITED and Zarubezhneft JSC (Zarubezhneft-Dobycha Samara LLC) for acquiring of 100% participating interest of Severo-Karasevskoye Petroleum Enterprise LLC.

The project is under active development. First oil inflow is expected during production testing in 2021.

Tuna block is located in approximately 108.8 km from the Block 06-1 of SRV in the offshore economic area of Indonesia in 13 km from the border of the offshore economic area of Vietnam. Sea depth is 110-120 m. Premier Oil Tuna BV (POTBV) being part of Premier Oil Plc. group has been the operator since March 2007.

Gas fields Kuda Laut and Singa Laut have been discovered at the block, recoverable reserves amount to: gas 9 393 billion cubic meters, condensate - 2 045 million cubic meters. The project is currently at the exploration stage, drilling of 2 appraisal wells KL-2 and SL-2 and performance of DST is necessary to confirm the commercial reserves of the field.