PetroVietnam Finds Gas in Red River Basin

The PetroVietnam Investment and Development Co. (PIDC), a subsidiary of the National Gas and Oil Corporation (PetroVietnam), announced it discovered a gas in Dong Quan D-1X field in the RedRiver Basin.

The PIDC began construction of a series of platforms at the PV-DQD-1X on December 22 last year, and completed them on February 22 this year.

One of the four newly drilled seams is 1,650m deep and is estimated to be able to provide between 30,000cu.m and 35,000cu.m of natural gas per day.

The well is located in the Hong River Basin, the largest basin on the continental shelf of Vietnam, covering most the area of the Tonkin Gulf.

Technical evaluations to assess the potential of the PV-DQD-1X well are in progress and are being conducted by the PIDC, according to PetroVietnam.

PetroVietnam plans to pump six billion cubic meters of natural gas and produce 350,000 tons of LPG this year.