Pharos looking to drill more shallow and deepwater wells offshore Vietnam

Offshore staff

LONDON — Pharos Energy expects net production from its operations offshore Vietnam in the range 4,700 boe/d to 5,700 boe/d this year.

On the TGT Field in Block 16-1, the latest drilling program has finished, with the new H1-35P and 11XPST wells coming onstream during the fall of 2022.

The Joint Operating Company (JOC) is continuing its well intervention and data-gathering program to further optimize production on TGT.

On the CNV Field in Block 9-2, the CNV-2PST1 started drilling in the second part of 2022 and should be completed by the end of January.

The JOCs for the two blocks are working on submitting Revised Field Development Plans (RFDPs) to the authorities for two wells on TGT and one on CNV.

Discussions continue with partners PTTEP and PVEP on finalizing a license extension request, which will be submitted to PVN for approval prior to submission to the Prime Minister for final assent.

On Block 125 offshore eastern Vietnam, a 3D seismic processing project has finished, with interpretation of the data revealing potentially `world class’ prospects, Pharos said, in this relatively unexplored basin.

Analysis of 2D seismic shot in 2019 indicated prospectivity in the shallow-water and deepwater sections, but the ongoing 3D interpretation has highlighted greater prospectivity in the deeper water section.

While Pharos had planned to drill a well on this block in 2023, a drillship is needed for the deeper water, and the company has not managed to secure one on acceptable terms. So it has applied to extend the term of the production sharing contract, allowing it to drill the well in second-quarter or third-quarter 2024.

It is also seeking a partner to co-fund drilling operations, with various companies expressing interest.

01.12.2023