Top 10 Largest Oil and Gas Fields in Vietnam

Su Tu Trang (STT) Field, located in Block 15-1, is operated and developed by Cuu Long JOC. This condensate gas field was discovered in 2003 and holds approximately 3.17 trillion cubic feet of gas and 435 million barrels of oil and condensate. However, Su Tu Trang has a very complex geological structure. Therefore, since 2012, Cuu Long JOC has conducted long-term trial production to gather additional data on the feasibility of long-term extraction. A total of 4 wells have been drilled during this period.

By the end of 2017, the Su Tu Trang field had produced a total of 94 billion cubic feet of gas and 17 million barrels of condensate. According to Cuu Long JOC, significant challenges remain in developing the field’s second phase. The company is currently focusing on multi-phase development solutions such as long-term trial extraction, gas injection, and ongoing assessment of the potential for expansion in other parts of the field with geological formations suitable for future development.

Additionally, the company has proposed a 2-year extension for the oil and gas contract for the entire Block 15.1. As a result, the company’s rights to extract oil and condensate have been extended until 2025, while its rights to extract gas have been extended until 2030. The company continues to work with the Vietnam Exploration and Production Corporation (PVEP), the Vietnam Oil and Gas Group (PVN), and other partners to negotiate agreements related to the second phase development of the Su Tu Trang field to ensure its most effective extraction and development.

With these integrated solutions, the second phase of the Su Tu Trang field is expected to begin production in Q4 2021, aligned with the operational launch of the Nam Con Son 2 pipeline. This will be the main gas source for the newly constructed Dinh Co 2 gas processing plant (scheduled to be completed in Q4 2020) with an annual capacity of 300,000 tons of LPG, 170,000 tons of condensate, and an additional 200,000 tons of ethane expected to supply the Long Son Refinery. By the end of 2023, with the development of phase two of the Su Tu Trang field, the field's production is expected to reach 52.4 million barrels of condensate and 420 billion cubic feet of gas, making a significant contribution to PVN's long-term gas production goals, especially as other major fields show signs of rapid decline.

Discovered in 2005, the Su Tu Nâu oil field is located offshore in Block 15.1, approximately 180 km southeast of Vung Tau City. Cuu Long JOC is responsible for its development. This is the sixth field development project led by Cuu Long JOC. The total production from four fields—Su Tu Den, Su Tu Vang, Su Tu Trang, and Su Tu Nâu—has exceeded 2 billion barrels, with over 580 million barrels recoverable.

The first oil from the Su Tu Nâu field was produced on September 14, 2014, with a rate of 45,000 barrels per day, 17 days ahead of schedule. At the same time, the Su Tu Vang Tay Nam project also produced its first oil on September 19, 2014, 46 days ahead of the planned timeline. Currently, Su Tu Vang Tay Nam maintains a production rate of nearly 5,000 barrels per day.

According to Nguyen Van Que, CEO of Cuu Long JOC, the early production of the Su Tu Nâu and Su Tu Vang Tay Nam projects (with an investment of approximately $870 million) was expected to add nearly $100 million to the total revenue of the project in 2014. This would bring the total production of the block to nearly 80,000 barrels per day. These numbers contributed to Cuu Long JOC's total oil production in 2014, which reached over 2.24 million tons, laying a strong foundation for achieving higher production targets set by the Vietnam Oil and Gas Group (PVN) for 2015 and beyond.

This is an oil and natural gas field located in Block 05.1, positioned to the northwest of the Trung Nam Con Son Basin, within the continental shelf of Vietnam.

Dai Hung Oil Field was discovered in 1988, and by 2006, it was assessed to have in-place oil and gas reserves at a 50% probability, equating to 354.6 million barrels of oil (48.7 million tons) and 34.04 billion cubic feet of gas (8.482 billion cubic meters), along with 1.48 million barrels (0.19 million tons) of condensate.

After Petronas Carigali Overseas of Malaysia withdrew from the field in 1999, exploration and development rights were transferred to Vietsovpetro. In 2003, Zarabenzheft from Russia also pulled out, and PetroVietnam continued to be responsible for exploration and extraction of the field.

As of early 2003, the total production from Dai Hung Oil Field was estimated at 3.327 million tons of oil and 1.037 million cubic meters of associated gas.

In 1992, the contract for the exploration and extraction of oil and gas in Block 15.2 was signed. This agreement marked a significant milestone in terms of rapid development. In 1994, just two years after the contract was signed, a commercial discovery was made, and by 1998, the first oil was extracted from the Rang Dong Oil Field. Currently, the field produces an average of around 40,000 barrels per day.

The Rang Dong development project is rigorously monitored, with every phase being carefully managed over an 18-month period. This includes feasibility studies, detailed design, and construction, all undertaken with strict safety and quality assurance standards.

The project will initially focus on gas injection in the N1 area, followed by an expansion to other areas such as E1 and C1. This initiative is part of PVEP’s larger plan to bring nine new oil fields into production in 2014.

In the fourth quarter of 2004, the second drilling platform at the Ruby Oil Field was completed and brought into operation. Following its activation, the field's daily production rose to 25,000–30,000 barrels, up from the previous 12,500 barrels.

By May 2004, since the commencement of production in October 1998, the Ruby Oil Field had produced over 40 million barrels of crude oil.

Additionally, PVC Company is continuing several other projects, such as exploring hydrocarbon sources in northern Vietnam, including Blocks 102 and 106, as part of its development plan.

In 1992 and 1993, Block 06.1, located approximately 370 km from Ba Ria - Vung Tau, was discovered. This marked Vietnam's first foreign-invested gas extraction project. In November 2002, the Lan Tay Oil Field began production. Block 06.1 has since supplied about 28.5 billion cubic meters of gas and 8.5 million barrels of condensate oil, fulfilling one-third of the country's electricity production needs for several years.

Russia, India, and Vietnam jointly invested in the offshore gas project for Block 06.1 and celebrated the achievement of producing 300 million barrels and 13 years of safe operation. This milestone also included over 29 million hours of work without any accidents.

Lan Do Oil Field, part of Block 06.1, commenced production in 2005. In the 10 years since, it has achieved an impressive 27 million hours of safe operation, successfully extracting oil and gas, and producing 13 million barrels of condensate. This has contributed 22% to Vietnam's total electricity production.

In October 2012, two submerged wells were installed at a depth of 185 meters beneath the seabed, connecting the Lan Tay and Lan Do platforms via a 28 km pipeline. The development of the Lan Do Oil Field has been crucial in maintaining a steady and safe supply of gas.

Bach Ho is one of Vietnam's key operating oil fields located in the Cuu Long Basin, southeast of Vung Tau, approximately 145 km offshore. It is the primary source of crude oil for Vietnam. The field is operated by the Vietnam-Russia Joint Venture Petroleum Corporation (Vietsovpetro), a subsidiary of Vietnam's state-owned oil and gas giant, PetroVietnam. Gas from this field is transported via a pipeline to the Dinh Co Liquefied Gas Plant, the Ba Ria Power Plant, and the Phu My Power Center, located about 40 km from Vung Tau.

The Bach Ho Oil Field, at a depth of around 50 meters, began producing its first barrels of crude oil on June 26, 1986, from the fixed platform MSP1, operated by the Vietnam-Russia joint venture. With reserves estimated at 175-300 million tons, Bach Ho is the largest oil field in the South Vietnam continental shelf and currently accounts for over 80% of the country's oil production.

The North-East Black Lion Oil Field implemented cutting-edge extraction technology, including the first-ever use of remote-controlled drilling rigs in Vietnam. This advancement enabled the field to begin operations two months ahead of schedule, coinciding with the 35th anniversary of the liberation of Southern Vietnam. As a result, the production rate in the Cuu Long Basin reached 100,000 barrels per day, significantly contributing to PVEP and the Group's production goals for 2010. Due to the project's importance and the remarkable efforts of the Cuu Long JOC workforce, it was chosen as a showcase project with a commemorative plaque for the first Congress of the Group’s Party Committee— an essential political milestone for the period 2010-2015, which marked a pivotal development phase for the Vietnam National Oil and Gas Group (PVN).

PetroVietnam Exploration and Production Corporation (PVEP) reported that at 10:10 AM on September 19, 2014, the Southwest Golden Lion (SVSW) field development project in Block 15-1, offshore Vung Tau, operated by Cuu Long JOC, successfully produced its first commercial oil. This came just five days after the South Brown Lion field, also operated by Cuu Long JOC, started production. The first oil from the Southwest Golden Lion was extracted from well 1P, with a flow rate of 3,000 barrels per day. A second well, 2P, was also brought into production on the same day, bringing the total production to approximately 5,000 barrels per day.

The Southwest Golden Lion project, initiated on November 12, 2013, was expected to produce its first oil on November 4, 2014. However, it started production 46 days ahead of schedule, setting a new record as the quickest development project (taking just over 10 months) in Vietnam's oil and gas sector. Previously, the fastest First Oil record was held by another Cuu Long JOC project, the Northeast Golden Lion (STV-NE), which took 12 months to complete. This project involved simultaneous design and construction, with an unprecedented fast-tracked timeline, including design, procurement, equipment purchase, and installation, all amidst numerous challenges. Thanks to the tireless efforts and close cooperation between PVEP, its joint venture partners, the Cuu Long JOC operator, and the contractor consortium in all stages—design, procurement, fabrication, transport, installation, and commissioning—the project significantly reduced development time compared to the initial schedule. The early startup of the Southwest Golden Lion field not only saved considerable costs for the investors but also showcased the high commitment and dedication of the engineers and workers, who worked overtime to meet the deadlines.