Exploration and Production

ConocoPhillips is a major investor in Vietnam and holds 4.7 million gross acres (2.7 million net) in six blocks.

Block 15-1: Su Tu Den, Su Tu Vang, Su Tu Den Northeast, Su Tu Trang, Su Tu Nau
Operator: Cuu Long Joint Operating Co.
Co-venturers: PetroVietnam (50.0%), ConocoPhillips (23.3%), KNOC (14.2%), SK Corp. (9.0%), Geopetrol (3.5%)

Block 15-1 is located in the Cuu Long basin in the South China Sea. Production from its Su Tu Den field began in late 2003. Crude oil is processed and stored in the 1-million-barrel Cuu Long M/V 9 floating production, storage and offloading (FPSO) vessel. Four additional fields have been discovered in Block 15-1 since the Su Tu Den discovery: Su Tu Vang, discovered in 2001; Su Tu Den Northeast, discovered in 2002; Su Tu Trang, discovered in 2003; and Su Tu Nau, discovered in 2005. Development of the Su Tu Vang field is under way, and first production is expected in 2008. First production from Su Tu Den Northeast is expected in 2010. Net production in 2007 was 14 MBD of crude oil.

Block 15-2: Rang Dong
Operator: Japan Vietnam Petroleum Co. (46.5%) Co-venturers: ConocoPhillips (36.0%), PetroVietnam (17.5%)

The Rang Dong field is located in Block 15-2 in the Cuu Long basin. Its field facilities consist of four wellhead platforms, a compression and water injection platform, a central liquids processing platform, and a utilities and living quarters platform. Sales-quality oil is stored in the Rang Dong 1 FPSO where it is offloaded to tankers for export. The FPSO will be replaced in 2008 with a new-build FSO that will reduce operating costs and help improve field performance. Net production in 2007 was 8 MBD of crude oil and 15 MMCFD of natural gas.

Vietnam Facilities