Vietnam: Bien Dong Petroleum Operation Company strives to exploit 2 billion m3 of Gas in 2017

Vietnam: Bien Dong Petroleum Operation Company strives to exploit 2 billion
m3 of Gas in 2017

Bien Dong (East Sea) Petroleum Operation Company (POC) will strive to
exploit 2 billion m3 of gas and 402 thousand tons of condensate in 2017. It
was the information from the conference of POC for reviewing production and
business activities in 2016, and deploying production and business plans in
2017.

Reviewing the production and business activities in 2016, Mr. Tran Hong Nam,
General director emphasized that 2016 has remarked finishing the Drilling
Campaign after 5 years of uninterrupted exerting Bien Dong POC's strength to
officially end the construction and improvement stage, and move to the
operation, exploitation stage of Bien Dong 1 project.

2016 has also remarked an important milestone in operation and exploitation
process of Bien Dong POC. This is the first year when Bien Dong 1 project
exploited a top designed output as 2 billion m3 of gas. To July 26, 2016,
Bien Dong POC had exploited a milestone of 5 billion m3 of gas.

Bien Dong POC has fulfilled 100% of targets on Safety - Health -
Environment: there was no any serious accident on people and environment,
injury accident rate per 200 thousand of working hours is 0.14 lower than
0.3 as planed for 2016.

The overall production in 2016 estimated about 2.1 billion m3 of standard
gas (105% of 2016 year plan and 112% of 2015 production) and 571 thousand
tons of condensate (102% of 2016 plan and 143% of 2015 production). The
total production value is estimated about $ 486 million.

Working factor of drilling rigs estimated 99% higher than 96%of 2016 planed
target.

Excellent completing TAR campaign (the campaign for temporary stopping
drilling rigs for periodic maintenance) for 3 days earlier than plan with a
saving amount of $ 1.6 million.

Regarding costs saving, to the end of December, 2016, Bien Dong DOC has
reduced around VND 714 billion equal 146.7% of planed target.

In 2017, Bien Dong POC will strive to have no accident on people and
accidents causing working hours loss, to reach a production of 2 billion m3
of gas and 402 thousand tons of condensate and to guarantee equipment
working factor of over 96% .

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Link to Original Article:
http://nangluongvietnam.vn/news/en/oil-and-gas/bien-dong-petroleum-operation
-company-strives-to-exploit-2-billion-m3-of-gas-in-2017.html

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com