Su Tu Trang 2

Su Tu Trang 2 Oil and Gas Phase (Vietnam)

Location

The Su Tu Trang 2 Oil and Gas Phase is located in Block 15-1 of the Cuu Long Basin, offshore Vietnam. Specifically, it is situated south-east of Ba Ria-Vung Tau province at a water depth of approximately 50 meters and about six kilometers away from the existing Su Tu Den field[3,.

Coordinates

• Latitude: 10.1468
• Longitude: 108.4259.

Project Details

• Status: Operating
• Operator: Cuu Long Joint Operating Company (CLJOC)
• Owners:
  • PetroVietnam (50.0%)
  • Perenco (23.25%)
  • Korea National Oil Corporation (14.25%)
  • SK Innovation (9.0%)
  • Geopetrol International Inc. (3.5%).

Discovery and Production

• Discovery Year: 2003
• Production Start Year: 2021.

Reserves

• Condensate Reserves: 63 million barrels (recovered reserves as of 2021).
• Gas Reserves: 5,465.1 million cubic meters (recovered reserves as of 2021).

Production Capacity

• Condensate Production: 2.37 million barrels per year (design capacity).
• Gas Production: 516.78 million cubic meters per year (design capacity).

Infrastructure

• The output from the Su Tu Trang 2 field is transported through a 19.5 km, 12-inch subsea pipeline via a manifold to the existing Su Tu Vang Central Processing Platform.
• The wellhead platform for Su Tu Trang includes a 1,400-ton topside, a 1,200-ton jacket, and 1,000 tons of jacket pile. The platform was fabricated by PetroVietnam at its yard in Vung Tau city.

Contractors and Development

• The engineering, procurement, and construction (EPC) contract for the Su Tu Trang gas field development was awarded to PTSC Mechanical & Construction (PTSC M&C), a subsidiary of PetroVietnam Technical Services Corporation, in March 2010. Nippon Steel Engineering was sub-contracted for detailed design and offshore transportation and installation works.

Market Impact

• The production from Su Tu Trang 2 is part of the broader efforts to supply condensate and gas to meet regional demand, particularly in Asia. The field's output is expected to contribute to the supply of ultra-light crude oil, which is crucial for petrochemical products.

Economic and Strategic Significance

• The project has an estimated CAPEX of around $140 million and is expected to produce 193 billion cubic feet of natural gas and 63 million barrels of condensate between June 2021 and September 2025.
• The start of phase 2A production coincides with a period of high demand for condensate and gas, particularly for petrochemical products essential in medical equipment and hygiene product manufacturing.

Additional Context

• The Su Tu Trang 2 Oil and Gas Phase is part of the Su Tu Trang complex, which also includes Su Tu Trang 1 and Su Tu Trang 2b Gas Phase. This complex is one of several fields in Block 15-1, including Su Tu Den, Su Tu Vang, and Su Tu Nau.
• Gas produced from the Cuu Long Basin, including from Su Tu Trang 2, is transported to the Phu My Gas Distribution Center via the Bach Ho pipeline system, serving power, fertilizer, and other industrial customers in southern Vietnam.