Vietnam

February 2, 2009

A $1 billion Golden Lion roars . . .

Production started recently at the Cuu Long Joint Operating Company's Su Tu Vang (Golden Lion) oilfield, Vietnam's fourth largest, located in block 15-1 southeast of Ba Ria-Vung Tau Province and 6km south of the Su Tu Den (Black Lion) South West development.

The $1billion project entailed installation of a central processing platform (CPP) along with a floating, storage and offloading (FSO) vessel 2.4km away, several in-field pipelines and modifications to the existing Su Tu Den South West wellhead platform.

The new CPP is designed to process 100,000b/d, about 65,000b/d of which will come from Su Tu Vang with the remaining capacity allocated to production from the Su Tu Den North East oilfield, scheduled to start up next year.

J Ray McDermott Asia Pacific was awarded the engineering, procurement, construction and installation (EPCI) contract for the Su Tu Vang CPP, jacket and in-field pipelines, fabricating the 15,500t deck in just over 22 months and undertaking its floatover installation (pictured) using its Intermac 650 barge.

Operator CLJOC controls four oilfields, of which Black Lion and White Lion are operational, with White Lion and Brown Lion oil fields scheduled to begin production between 2011 and 2016.

Under the block 15-1 petroleum contract, CLJOC consists of PetroVietnam Exploration & Production Corporation 50%, ConocoPhillips (UK) Cuu Long 23.25%, Korea National Oil Corporation 14.25%, SK Energy 9% and Geopetrol Vietnam 3.5%.

. . . as Song Doc goes online

First oil from the Song Doc field was produced by the Truong Son JOC in block 46/02, located about 170km off the south coast of Vietnam.

Production from the initial five wells drilled was expected to rise from 18,000b/d to around 28,000b/d, with three more development wells under way. Song Doc facilities comprise an FPSO and wellhead platform. Modec owned and operated, the FPSO Song Doc Pride MV19 is a converted Panamax tanker capable of processing 30,000b/d of liquids and storing 360,000 barrels of oil. The vessel is installed in 55m of water.

Block 46/02 JV partners are PetroVietnam E&P with 40% and Petronas Carigali Overseas and Talisman (Vietnam 46/02), both with 30%.



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