Page 7 - AsianOil Week 44 2021
P. 7
AsianOil SOUTHEAST ASIA AsianOil
revenue shrink by 20% in 2022 to VND35.2
trillion ($1.54bn).
Petrovietnam CEO Le Manh Hung, mean-
while, has said that while his company is focused
on finding and developing new oil reserves,
there had been a lack of new production wells
in recent years. The executive added that it could
take decades to discover and then produce new
oil reserves. to introduce favourable mechanisms to help
Highlighting the challenges facing the coun- upstream operators to free up capital for
try’s oil developers, Petroleum Business Club reinvestment.
deputy chairman Vu Quang Nam said explo- Crude production has dropped from a peak
ration wells could cost around $10-15mn each of 16.9mn tonnes (339,400 bpd) in 2015, state-
while only having a 20% success rate. owned Vietnam News Agency (VNA) reported
He added: “Even in other countries, if drill- last week, citing official figures. The newswire
ing 6-10 wells results in one extractable well, that noted that infill wells accounted for less than
would be a success.” 10% of Vietnam’s production, while enhanced oil
Nam, a former deputy general director of recovery (EOR) programmes had only boosted
PetroVietnam, said the government needed output by another 1-2%.
EAST ASIA
Jade Gas ready to begin
Mongolian drilling
PROJECTS & AUSTRALIAN independent Jade Gas intends to are to be cased for subsequent completion
COMPANIES start its six-well appraisal programme at the Tav- later in 2022 to obtain longer-term produc-
antolgoi XXXIII (TT) coal-bed methane (CBM) tion information.”
project in Mongolia this month. The independent has also completed invi-
The exploration campaign, which is part tations to bid for well logging and coal quality
of the company’s obligations under a devel- analysis, while contracts to build the necessary
opment plan that the government approved infrastructure to support the upcoming field
earlier this year, builds upon an eight-well work are being finalised.
programme that was completed in 2019, Jade The executive director of the Mel-
Gas said on November 2. bourne-based company, Joseph Burke, said the
Following the 2019 drilling campaign, latest drilling campaign would demonstrate to
independent upstream advisory firm RISC the Mongolian government that Jade Gas was
identified multiple coal seams it considered dedicated to progressing the TT CBM project
could be economic for CBM extraction. One in a “methodical, safe and expeditious manner”.
of the new campaign’s objectives is to provide Jade Gas operates the production-shar-
additional data on the gas content and compo- ing agreement (PSA), which is located in the
sitional information in high-potential seams South Gobi Basin, with a 60% interest, while
in order to validate the insights obtained dur- state-owned Erdenes Methane (EM) owns the
ing the 2019 work programme. remaining 40%.
Jade Gas said coal from “seams of interest” The licence covers around 665 square km and
would be cored and analysed at an on-site includes the Tavan Tolgoi coal field, which lies in
coal desorption laboratory. The company has the Omnigovi Province around 550 km from the
imported various pieces of high-tech equip- capital city of Ulaanbaatar and 85 km from the
ment for the drilling programme, including provincial capital of Dalanzadgad.
desorption equipment for the lab as well as Jade Gas noted that the availability and capa-
downhole logging tools and drill stem testing bility of the services sector in the South Gobi
(DST) equipment. region was strong as a result of an uptick in
Jade Gas added: “A programmed series development activity in the area. This, the com-
of permeability tests will also be carried out pany added, should allow it to carry out its work
using this equipment, and up to four wells programme as planned.
Week 44 04•November•2021 www. NEWSBASE .com P7
