Batavia acquires interest in Block 15-2 off Vietnam
Singapore-based Batavia Oil on August 20 said it has completed the purchase of 100% of the shares in Perenco Rang Dong from UK's Perenco Overseas Holdings, which holds a 30.5% non-operating interest in the Block 15-2 Rang Dong, offshore Vietnam.
Block 15-2 lies offshore Vietnam, in the Cuu Long basin at a water depth of approximately 56 m. Japan Vietnam Petroleum Company (JPVC) as the operator of the Block 15-2 started exploration activities in October 1992 and found the Rang Dong field in June 1994 through its first exploration well. JVPC began commercial production of crude oil from Rang Dong in August 1998. Participating interest holders in Block 15-2 are Batavia Oil, PetroVietnam Exploration Production and JVPC.
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In addition to Rang Dong, Block 15-2 also comprises the Phuong Dong field. Oil from the block is stored at an on-site floating storage unit and then delivered to markets via tanker, while gas is piped onshore. The Block 15-2 PSC was approved for an extension until April 2025, paving the way to enhanced oil recovery with reinjection of water and gas. The full scale production began with the gas injection in November 2014.