Abstract

Petrovietnam Exploration Production Corporation Ltd. (PVEP) is currently operating exploration blocks 148 & 149 in the PhuKhanh Basin, offshore Vietnam. The production sharing contracts were signed in 2011. PVEP holds 100% participating interest. The blocks cover an area of 28,428 km2 with a water depth of 2000 – 2600 m. The blocks are covered by 2D and 3D seismic data. Oil has been discovered in the Miocene carbonate reservoir in nearby well 124-CMT-1X. The carbonate and clastic Miocene reservoirs have porosities varying from 18.6% to 25%. The upper Oligocene – Lower Miocene lacustrine coaly mudstone source rocks have a TOC ∼ 5%, HI ∼ 700 mg/g and type I& III kerogens. The OIIP is approximately 17,519.9 MMSTB.