A new oil field was discovered in Việt Nam’s continental shelf by the Russia- Việt Nam oil and gas exploration joint venture, Vietsovpetro, on November 30, 2016. — File Photo 

A new oil field was discovered in Việt Nam’s continental shelf by the Russia- Việt Nam oil and gas exploration joint venture, Vietsovpetro, on November 30, 2016.

Lê Việt Hải, Vietsovpetro’s deputy director of geology, acknowledged that during a drill stem test for the Bach Ho-47 well, a continuous oil flow sans water was struck.

The oil field had an average density of 0.83g per cu.m. and estimated flow of 610cu.m. per day for oil and 110,000cu.m. per day for gas, based on Vietsopetro’s calculation.

Hai also said Vietsovpetro would conduct further research to determine the payzone’s geological formation to better assess the reservoir’s quantities and to recalculate the distribution before the company could continue their exploration.

The oil flow came from a Miocene-aged formation, some 23.03 to 5.3 million years ago, at a depth of 3.178-3.277km.

The Bach Ho-47 well would go into preservation for later exploitation following the completion of the drilling and testing process. Findings from this well have opened up new opportunities in exploration, research and utilisation of oil reservoirs in the area.

The discovery was made in the northeast Bach Ho region of the Cuu Long basin on the southern shelf of Viet Nam. — VNS