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PETROVIETNAM
A. INTRODUCTION OF PETROVIETNAM
PETROVIETNAM
PETROVIETNAM - NATIONAL OIL CORPORATION OF VIETNAM
Operating in all petroleum sector: Upstream and Downstream
Exploration started in early 1960s in Red River Delta, Song Hong Basin, (Onland Northern Vietnam) under the assistance of Soviet Union
KEY MILESTONES
Sept. 1975: Established Vietnam Oil and Gas General Department (laterly called Petrovietnam).
1981: First Gas Production in Hanoi Trough, Red River Delta (marginal field)
1986: First Oil Production in White Tiger Oil Field (Vietsovpetro)
PETROVIETNAM
1989: First PSCs in Vietnam with International Oil Companies
1999: First Participation in overseas E&P (Malaysia)
2002: First Commercial Gas Production from PSC (BP’s Gas Fields). Established Gas Industry in Vietnam.
2003: First Operatorship in overseas E&P (Algeria)
2005: Oil Discoveries in overseas (Algeria & Malaysia)
2006: First Oil from overseas (Cendor Oil Field, Malaysia)
PETROVIETNAM
COUNTRY OF VIETNAM
• Area: 330,000 sq.km land and 1 million sq.km continental shelf
Exclusive Economic Zone (EEZ) Designated in 100 blocks*5000 km2
• Population: 84 million (2005)
• GDP: 45,61 billion USD (2005)
• GDP Grow rate: 7.5% per year
• Export Products: Crude oil, coal, rice, coffee, aqua products, rubber, nuts, garments, shoes…
• Labor forces (persons): 40,500,000
• Main cities: Hanoi (Capital), Ho Chi Minh City – Commercial hub, Hai Phong – Northern port city, Danang – Central port city, Can Tho – Southern port city.
PETROVIETNAM
HYDROCARBON POTENTIAL OF VIETNAM
• Vietnam: 3rd largest oil producer in SE
Asia
• Potential oil resouces: 8.5 billion
barrels
• Potential gas resources: 100 Tcf
• Discovered Oil Reserves: 4 BBO
• Discovered Gas Reserves: 23 TCF
• Oil Production: 430.000 BOPD
• Gas production: 600 MMSCFD
• Cumulative production: > 200 MM
metric tons of crude oil & > 20 billion m3
of gas.
PETROVIETNAM
ESTIMATED HYDROCARBON RESERVES
discovered hypothetical
(million metric tons of oil equivalent)
PETROVIETNAM
PETROVIETNAM
PETROVIETNAM
DOMESTIC & OVERSEAS E&P
PETROVIETNAM
Since 1988 to 2005Since 1988 to 2005
• 50 contracts executed50 contracts executed
• 26 contracts in force26 contracts in force
• Over 7 billion USD investedOver 7 billion USD invested
TOTAL INVESTMENT IN PETROLEUM EXPLORATION AND PRODUCTION
445
105 130101
397
630
490
420
350305
200 206
520
705
910
0
100
200
300
400
500
600
700
800
900
1000
1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
Million USD
DOMESTIC E&P
PETROVIETNAM
PETROVIETNAM
Cuu Long: Cuu Long: Bach Ho, Rong Bach Ho, Rong Rang Dong Rang Dong Hong Ngoc (Ruby) Hong Ngoc (Ruby) Su Tu Den (Black Lion)Su Tu Den (Black Lion)
Under developmentUnder development: : Su TuSu Tu Vang, Su Tu Trang, Su Tu NauVang, Su Tu Trang, Su Tu Nau……
NCS NCS : : Dai Hung (Big Bear)Dai Hung (Big Bear) , , Lan Tay Lan Tay Lan Do Lan Do
Under developmentUnder development: : Rong Doi, Rong Rong Doi, Rong Doi Tay, Hai ThachDoi Tay, Hai Thach....
Song HongSong Hong: : TienHai CTienHai C
Malai ThochuMalai Thochu: : BungaRaya,Kekwa,Cai Nuoc BungaRaya,Kekwa,Cai Nuoc
Under developmentUnder development: : Ac Quy, Ca Ac Quy, Ca Voi Xanh, Bunga Orkid, Pakma…Voi Xanh, Bunga Orkid, Pakma…
PRODUCING FIELDS & DISCOVERIESPRODUCING FIELDS & DISCOVERIES
PETROVIETNAM
Block SK305, Block SK305,
Malaysia, 30%Malaysia, 30%
Amara Oil FieldAmara Oil Field
Iraq 100%Iraq 100%
Block 433a&416b, Block 433a&416b,
Algeria, 40%Algeria, 40%3 Blocks in Tamtsag, 3 Blocks in Tamtsag,
Mongolia, 5%/blockMongolia, 5%/block
Exploration (05 projects)Exploration (05 projects)
Development (02 projects)Development (02 projects)
Block NEM 2Block NEM 2
Indonesia, 20%Indonesia, 20%
OVERSEAS E & P
Block NEM 1Block NEM 1
Indonesia, 20%Indonesia, 20%
Block PM304 Malaysia, 15%
PETROVIETNAM
No BlocksType of
Contract Country Operator
Part. Interest of PIDC (%)
Status
1 433a&416b PSC Onshore Algeria PIDC 40 % Exploration & Appraisal
2 SK 305 PSC Offhore Malaysia PCPPOC 30 % Exploration
3 PM 304 PSC Offhore Malaysia Petrofac 15% Development
4 NEM I PSC Offhore Indonesia KNOC 20% Exploration
5 NEM II PSC Offhore Indonesia KNOC 20% Exploration
6 Tamtsag PSCOnshore Mongolia
Datamo 5% Exploration & Appraisal
7 Amara SC Onshore Iraq PIDC 100% Development
CURRENT OVERSEAS E & P
PETROVIETNAM
Contract Signing : 3/2002
Type of Contract : Buyback
Operator: PIDC (100%)
1,500 MMBO in place (#560 MMBO
recoverable)
Intended Plateau : 80,000 BOPD
Currently suspended due to
political instabilisation.
Amara Oil Field, Iraq
PETROVIETNAM
Hassi MessaoudHassi R’Mel
Alger
EL OUED
TOUGGOURT
Discovered Oil in place: 2-3 BBODiscovered Oil in place: 2-3 BBO
Hypothetical Oil in place: 1-2 BBOHypothetical Oil in place: 1-2 BBO
Lô 433a & 416b
Acreage: 6,472 sq.km, Sahara Acreage: 6,472 sq.km, Sahara Desert, Desert,
Operator: PIDC (40%)Operator: PIDC (40%)
Works already conducted:Works already conducted:
Acquired 312 km of 2D seismic.Acquired 312 km of 2D seismic.
Drilled 03 commitment wells. Drilled 03 commitment wells.
02 discoveries made in MOM and Bir 02 discoveries made in MOM and Bir Seba prospects. Seba prospects.
Phase I expired by July 1st 2006Phase I expired by July 1st 2006
Estimated Phase II Expenditure: Estimated Phase II Expenditure: USD 450 million, (PIDC: USD 243 USD 450 million, (PIDC: USD 243 million)million)
Blocks 433a & 416b, Algeria
PETROVIETNAM
Oil Discovery in Bir Seba (December 2005)
PETROVIETNAM
TWO PROJECTS IN MALAYSIA
Sulu Sea
Celebes
Sea
Pulau Sebatik
Pulau
Timbun Mata
Pulau Tawitawi
Pulau Sibutu
Pulau Jambongan
Pulau Malawali
Pulau Bugsuk
PALAWAN
(PHILIPPINES)
Pulau Balabac
THAILAND Malaysia / Thailand
Joint Development
AreaPM3
Commercial Arrangement Area
South China
Sea
VIETNAM
SINGAPORE
Straits
of Mela
ka
SUMATRA
Pulau
Tioman
Kepulauan
Anambas
Pulau Djemadja
Pulau Natuna
Pulau
Subi
Besar
1°
3°
5°
7°
9°
1°
3°
5°
7°
9°98° 100° 102° 104° 106° 108° 110° 112° 114° 116° 118° 120°
98° 100° 102° 104° 106° 108° 110° 112° 114° 116° 118° 120°
Pulau
Banggi
SARAWAKKALIMANTAN
SABAH
Pulau
Langkawi
Pulau
Pinang
PENINSULAR
MALAYSIA
Pulau Labuan
BRUN EI
0 200
Km
PM304
Pulau
Balambangan
AC
B
D
SB303
E
SB302
PM321
PM322
PM303
PM308
SK301
F
SK302
SK303
SK304
SK331
SK333
SK332
SK334
SB304
SB332
SB330SB305
SB331
SB306
SB301
J
SK308SK3
PM311
PM306
PM302
SK312
PM301
PM307
PM305
G
H
SK310
SK311
200m
200m
SK306
B
SK309
F
SK309
PM313
SK 307
K
SK5
SK305
PM320
L
M
PM309
PM312
SK 305
PM304
SK305
PETROVIETNAM
Petrovietnam: 15%
Operator: PETROFAC
Recoverable reserves: 35 MMBO
First Oil: QIII/2006, 12,000 BOPD
Cendor Oil Field – Block PM 304, Peninsular Malaysia
PETROVIETNAM
Vietnam, Malaysia and Indonesia Vietnam, Malaysia and Indonesia
Tripartite Cooperation Tripartite Cooperation
Operator: PCPP JOCOperator: PCPP JOC
PPetrovietnametrovietnam: 30%: 30%
Oil Discovery made in Dana Oil Discovery made in Dana
prospect (well Dana-1X) December prospect (well Dana-1X) December
2005 (DST result: 3.100 BOPD)2005 (DST result: 3.100 BOPD)
Block SK 305, Malaysia
PETROVIETNAM
Offshore East Java Island,
Indonesia.
PPetrovietnametrovietnam: 20%
Operator: KNOC
First exploration well without
discovery
Block North East Madura I (NEM I) - Indonesia
PETROVIETNAM
Block North East Madura II (NEM II) , Indonesia
Offshore East Java Island, Offshore East Java Island,
Indonesia.Indonesia.
PPetrovietnametrovietnam: 20% : 20%
Operator: KNOCOperator: KNOC
PETROVIETNAM
PPetrovietnametrovietnam: 5% (carried until
Commercial Declaration)
Operator: Datamo (Daqing, China)
Exploration and extensive
appraisal toward Commerciality.
Pilot production in Block 19: 350
BOPD
Oil Production Facilities
Blocks 19, 21, 22 - Tamtsag, Mongolia
PETROVIETNAM
TOTALLY TARGETED INCREMENTAL RESERVES 20 YEARS (2006-2025)
Domestic: Domestic: 540 – 650540 – 650
Overseas: Overseas: 185 – 205185 – 205
TOTAL: TOTAL: 725 – 855725 – 855
(million metric tons oil equivalent)(million metric tons oil equivalent)
PETROVIETNAM
OVERSEAS REGIONS - EXPLORATION FOCUS
Continued exploration efforts in Algeria, Malaysia, Indonesia
Prioritised new projects in 5 core regions:
No. Regions Countries
1. Middle EastIran, Iraq, Arab Saudi,
Yemen
2. AfricaLibya, Nigeria, Angola,
Sudan
3. South East Asia Malaysia and Indonesia
4.Russia and other
countries in Central Asia
Russia, Azerbaijan,
Uzbekistan, Turkmenistan,
Kazakhstan.
5.Latin America & South
AmericaMexico, Venezuela, Brazil
PETROVIETNAM
ESTIMATED EXPLORATION EXPENDITURES
DOMESTIC2006-2010: 2,730 – 3,310 MM US$ 2011-2015: 2,310 – 2,920 MM US$2016-2025: 4,050 – 4,800 MM US$TOTAL 9,090 – 11,030 MM US$
OVERSEAS2006-2010: 470 - 600 MM US$2011-2015: 900 –1,300 MM US$2016-2025: 1,700 – 2,100 MM US$ TOTAL 3,070 – 4,000 MM US$
PETROVIETNAM
PETROVIETNAM
PRODUCTION PERSPECTIVE
PETROVIETNAM
TOTALLY FORECAST PRODUCTION 2006-2025
DỰ BÁO KHAI THÁC DẦU KHÍ GIAI ĐOẠN 2005-2025
Khí đã phát hiện
0
4
8
12
16
20
24
28
32
36
40
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Dầu
khí,
triệu
tấn
(quy
đổi
)
0
4
8
12
16
20
24
28
32
36
40
YTF Gas (domestic)
Disovered Gas (domestic)
Oil from overseas
YTF Oil (domestic)
Enhanced Oil Recovery (demestic)
Discovered Oil (domestic)
PETROVIETNAM
PETROVIETNAM
GAS INDUSTRY AND DOWNSTREAM
PETROVIETNAM
Gas UtilisationGas Utilisation
To make full use of gas
potential, Petrovietnam in
progress of actively developing
gas utilisation projects.
PETROVIETNAM
Petrovietnam Gas Projects
Bach HoBach Ho
Nam Con Nam Con SonSon
South West South West GasGas
PETROVIETNAM
Bach Ho (White Tiger) Gas Utilisation Project
Offshore CompressionOffshore Compression
Transmission PipelineTransmission Pipeline
Gas Processing Plant-Dinh Gas Processing Plant-Dinh CoCo
Distribution PipelinesDistribution Pipelines
LPG Storage & Jetties-Thi LPG Storage & Jetties-Thi VaiVai
Length: 140 kmLength: 140 km
Diameter: 16 inchDiameter: 16 inch
CAPACITY:CAPACITY:
Associated Gas: 2 Associated Gas: 2 BCM/yearBCM/year
Dry Gas: 1.5 BCM/yearDry Gas: 1.5 BCM/year
LPG: 300,000 T/yearLPG: 300,000 T/year
Condensate: 150,000 Condensate: 150,000 T/yearT/year
PETROVIETNAM
Nam Con Son Gas Utilisation Project
Capacity: 7 BCM/yCapacity: 7 BCM/y
Phase one: 2002Phase one: 2002
Gas: 2,7 BCM/yGas: 2,7 BCM/y
Cond.: 110,000 T/yCond.: 110,000 T/y
Length: 370 kmLength: 370 km
Diameter: 26 inchDiameter: 26 inch
(the longest 2 phase (the longest 2 phase [gas+liquid] pipeline)[gas+liquid] pipeline)
To Utilize Natural Gas from Nam Con Son Basin.To Utilize Natural Gas from Nam Con Son Basin.
PETROVIETNAM
Phu My - Ho Chi Minh Gas Pipeline
Capacity: 2 BCM/yCapacity: 2 BCM/y
Completed in 2006Completed in 2006
Length: 62 kmLength: 62 km
Diameter: 22 inchDiameter: 22 inch
Costs: 115 MM USDCosts: 115 MM USD
To deliver gas to the HCM City area.To deliver gas to the HCM City area.
PETROVIETNAM
Low Pressure Distribution Network
Supply gas to the Supply gas to the
industrial zones along the industrial zones along the
trunk-pipeline to HCM trunk-pipeline to HCM
City.City.
First network in 2003First network in 2003
Length: 15 kmLength: 15 km
Capacity: 1 billion mCapacity: 1 billion m33/year/year
PETROVIETNAM
Southwest Gas Master Plan and Regional Link•Two pipelines systems: PM3 CAA - Ca Mau , Block B – O Mon.
•Block PM3 CAA: 2.5 BCM/year (60 BCM reserve)
•Block 46,50,51: 2.0 BCM/year
•Ca Mau Complex: Total investment ~ 1.44 billion USD
PM3 CAA -> Ca Mau 289Km offshore +43 Km Onshore, 18’’ diameter
Power Plant: 720 MW
Fertilizer Plant: 800,000 tons/year
Block B, 48/95, 52/97 : 2-5 BCM/year (160 BCM reserve)
Block B – O Mon pipeline 235km offshore+195km onshore, 26”
dia.
Gas transported to O Mon- Tra Noc Power Plants .
SOUTHWEST GAS PLAN AND REGIONAL LINKSOUTHWEST GAS PLAN AND REGIONAL LINK
PETROVIETNAM
DEVELOPMENT PLAN FOR GAS in SOUTH vietnam
Existing pipeline
Pipeline under construction (FS made)
Pipeline under FS
Power plant under operation (FS made)
Power plant FS being studied
Fertilizer plant under construction (FS made)
CAMBODIA
A M O CO
A M O CO
B RIT IS H G A S
B RIT IS H G A S
B RIT IS H G A STHA I PO
HA RRO DS
W O OD SI DE
W O OD SI DE
ID EM I TS U
P TTE P
CP O C
CP O C
FI NA
UNO CA L
UNO CA L
P ED COA ED C B P
B P
CO NO CO
CO NO CO
CA NA DIA NP ET RO LE UM
FI NA
FI NA
CTO C
TE X AC O
TE X AC O
TE X AC O
B5
B9 A
B1 0
B11
B1 2
B1 3
B1 4
B1 5
B1 6
B1 3 /3 8
B1 7
5 0
5 1
5 2
4 6
A1 8
B1 2 /3 2
B11 / 38
B1 2 /3 8
BLO CK BB1 2 /2 7
B6
B7
B8
B8 /3 2
B5 /2 7
B1 0 /3 2 A
O 6
O 5
O 4
O 3
O 2
O 1
CA RIG A L I L UNDI N
E SS O
C1 9
P M 3 0 2
P M 5
P M 3
P M 8
B1 2
11 -20 5 -3 0 5 -2
11 -2
1 3 4
1 2 0 6
0 7
1 3
2 0
2 7
3 33 8
2 1
2 8
3 43 9
3 54 0
4 1
4 2
4 3
4 4
4 5
5 0 /9 6
5 1 /9 6
3 6
2 2
2 3
2 9
4 8 -9 5
1 2
1 0
0 9
1 5 2 1
2 2
2 3
2 4
2 5
1 611
0 8
2 6
H O C H I M INH
PHNOM PENHVIETNAM
E NTE RP RIS E
V IE TS OV PAT RO
CA RID AL I
CA RID AL IJV P C
1 7 -2 1 7 -1
0 9 -2
0 5 -1 1 3 3
0 9 -3
1 5 -1
1 5 -2
0 1
0 2
0 3
0 4 -1 0 4 -2
1 2 8
1 2 9
1 3 0
1 3 1
1 3 2
0 4 -3
1 6 -1
1 6 -1
1 8 1 0
2 5
3 1
1 9
2 6
3 23 7
S OC T RA N G
S ON G DO C
C A M AU
O M ON
A N M IN H
TR A N OC
PM3_CAA 60 BCM2.5 BCM/year 2005
block 46,50,51 10-15 bcm0,8-1,5 bcm/year after 2010
Block B,52/97 71 BCm2-3,7 BCM/year 2005-2006
opt 1 from 3 lines
power Max 2160 MWfertilizer. 800.000 t/year
L.T©y, L.®á 58 bcm2,1- 2,7 bcm/year 2002
Max 1440 MW
Max 1440MW
Phó mü area2005: 4215 MW
Max 3000mw
capacity 2 bcm/year
capacity 6-7 bcm/year18
inch
235+43 km
06-2
PETRO
CARIGALI
CARIG
Hon dat
500KV transmission line available
270 km
282 km
145+5 km
100+5 km 105+5 km
23 km
289+43 km
60 km
24 inch
125 km
60 km
omon
365 km
26 inch
Phu my
DINH CO
30 inch
100 km
complex
107 km
46 km
16 inch
26 inch
PETROVIETNAM
downstreamdownstream
Refining
Petrochemistry
Distributing and trading
petroleum products
PETROVIETNAM
DownstreamActivities Map
Nghi son Refinery &
Petrochemical Complex (2015)
Dung quat Refinery (2009)
Phu my Fertilizer Project
(2004)
Camau Power-Fertilizer
Complex (2010)
PETROVIETNAM
PHU MY FERTILIZER PLANT
Location: Phu My, Vung Tau
Capacity: urea 740.000 T/year, ammoniac 51.000T/year
Capital:430 million $US,
Operation: June 2004
PETROVIETNAM
PVC PLANT
Joint Venture
(PV, Petronas, Tramatsuco)Location: Baria, Vung Ta
Capacity: 100.000 tons/year
Capital: 68.5 million $US
Operation: January 2003
PETROVIETNAM
•Refinery No. 1 - Dung Quat
Capacity: 6.5 million tons/year
Feedstock: Bach Ho
Products: LPG, Unlead Gas, Jet A1, Diesel, FO, Kerosene, PP.
Capital: 2.5 billion $US (Petrovietnam 100% share)
Status: Under construction
Operation: in 2009 year•Refinery No. 2 - Nghi Son
Capacity: 7 million tons/year
Feedstock: Sweet/Sour Crude Oil ( 50/50)
Products: LPG, Unlead Gas (Octane Index > 90), Kerosene, Diesel, FO, Bitumen,
Para-xylene (for Polyester),PP
Capital: 3-3.5 billion $US (Open for foreign party JV, BCC, BOT...)
Status: Pre-FS approved by Government
FS being made (to be submitted to Government in Dec. 2003 for approval)
Operation: in 2015
DOWNSTREAM ACTIVITIESDOWNSTREAM ACTIVITIESPROJECTS UNDER CONSTRUCTIONPROJECTS UNDER CONSTRUCTION
PETROVIETNAM
•Bitumen ProjectLocation: to be decidedCapacity: 0.2 million tons/year for the first stage (bitumen only),
can be increased up to 1 million tons/year for other products in further stages.
Feedstock: imported Heavy Crude Oil or atmospheric residue from refineryProducts: Bitumen and by-products as DO, FO...Investment: FS being made, open to investors with Joint Venture.
•Ca Mau FertilizerLocation: Ca Mau ComplexCapacity: 800,000 ton/year (Phase 1); 2,000,000 ton/year (Phase 2)Capital: 700 million $US, FS approvedOperation: by 2008Present status: EPC contract sumitted for Government approval
DOWNSTREAM ACTIVITIESDOWNSTREAM ACTIVITIESONGOING PROJECTSONGOING PROJECTS
PETROVIETNAM
PETROVIETNAM - ROAD TO THE FUTUREPETROVIETNAM - ROAD TO THE FUTURE
An international industrial - commercial - financial -
insurance group
Expanding exploration and development activities
throughout the country
Developing infrastructure - gas market, gas and
downstream projects
Attracting foreign investments
Developing technological and managerial capability for
fast development of industry
Expanding international energy-related business
