11:26 | 28/08/2015 Industry
The first oil flow from the Bir Seba oil field, a joint project between Vietnamese, Thai and Algerian companies, was pumped into the central processing facility in Algeria on August 12, said deputy director of the PetroVietnam Exploration Production Corporation (PVEP) Ngo Huu Hai.
Launched in 2002, the project is expected to have an output of 2,900 tonnes of oil, or 20,000 barrels, per day. — Photo petrotimes
The project is being implemented through a joint venture between the PVN Exploration Production Corporation (PVEP), Thailand's PTT Exploration and Production Company (PTTEP) and Algeria's state-owned oil and gas company Sonatrach with participating interests of 40 per cent, 35 per cent and 25 per cent, respectively.
Launched in 2002, the project is expected to have an output of 2,900 tonnes of oil, or 20,000 barrels, per day.
The figure will be raised to 5,800 tonnes (40,000 barrels) per day between 2018 and 2021. In its first 25 years of operation, it is expected to produce about 30 million tonnes or 200 million barrels.
Bir Seba Field, located in an inland and desert area 130 kilometres north east of Hassi Messaoud, comprises 16 productive wells, crude oil processing facilities (20,000 bpd), and oil and gas export pipelines.
A joint venture company, Bir Seba Groupment Executive Chung (GBRS), was formed by the parties to take over the administration and operation of the project.
As the first overseas project in which the Vietnamese group participated throughout, right from searching and exploring oil to monitoring oil field development and commercial production, the event is not only being considered a landmark in the development of the Vietnamese oil and gas sector but also marked the effective economic cooperation between Viet Nam, Thailand and Algeria in this area.
The PVEP is a subsidiary of the Vietnam Oil and Gas Group (PetroVietnam). PetroVietnam made its first step to the world oil exploration market by taking part in Tamsaq project in Mongolia in 1999. The first oil batch exploited overseas in 2006 came from Block PM304 offshore Peninsular Malaysia, marking its first successful investment overseas.
The PetroVietnam now has 20 exploration and production projects in 14 countries and territories, including the Russian Federation, SNG countries, Middle East, Northern and Central Africa, Latin America and ASEAN countries./.