JV Vietsovpetro Increases the Industrial Capacity of the Ca Tam Field Offshore Vietnam
Tuesday 23 August 2016
JV Vietsovpetro, a joint venture between Zarubezhneft and PetroVietnam, successfully continues the exploration of the Ca Tam field offshore the Socialist Republic of Vietnam.
During the tests of only the first exploration object well CT-4X , Block 09 / 3-12, a water-free flow of oil with production rate of 650 m3/day was achieved from the Oligocene deposits.
The well has encountered productive sediments at greater depth in comparison to the previous successful exploration well CT-3X. This indicates a significant increase in the oil saturated net thickness and oil reserves.
High productiveness and reserve density provide commercial viability of that project, even with the current situation in the oil market. Bringing Ca Tam, a new offshore field in Vietnam, into development is scheduled for late 2017 - early 2018.