EVALUATION CONCLUSION
Block 102 & 106 Summary & Conclusions |
Very attractive block with huge, low – medium risk exploration and appraisal potential (high impact, potential company maker targets) |
| 12 mapped prospects and leads with total recoverable resource potential (mainly oil) of 1,490 MMSTBOE (unrisked) and 226 MMSTBOE (risked) |
| Discovery well Yentu-1X contain potential recoverable resources of 20 – 30 MMSTB oil in Miocene clastics and proved hydrocarbons in Basement carbonates. Geological risks are minimised in remaining prospects & leads |
| 2006 exploration programme include drilling Halong-1X (398 MMSTB oil + 832 BCF) and Hong Ha-1X (187 MMSTB oil) with contingent appraisal well Halong-2X in event of Halong-1X success |
| 2006 firm budget of US$ 38.2 MM and contingent budget of US$ 21.1MM |
| Planned evaluation of commerciality of Miocene oil discovery and potential of other undrilled, mapped Miocene prospects around Yentu |
| Rapid commercialisation of discoveries (for both oil and gas) following any successful drilling in 2006 |
Paleogene sediments in the central grabens and very thick Miocene sediments could be good hydrocarbon source rocks. However, the question that needed to be answered was “how do the generated hydrocarbons migrate and where are they accumulated and entrapped”? Our current geological, geochemistry and seismic interpretations have established a new concept for exploration and can eliminate the misunderstandings implemented in the past. Fractured pre-Tertiary carbonates are the primary reservoirs and sandstones of Oligocene and Lower to Middle Miocene are secondary targets. Claystone and shale of Eocene and Lower Miocene are main source rocks that may contain Type III Kerogen and possibly some Type I and II Kerogen in the Eocene and Oligocene. The organic matter of the source rocks is generally in the oil window and wet gas-condensate generation phases. Gas-prone organics are predominant. The alteration of faults and interbedded claystone, shale, and fine-grained sandstone are expected to provide local seals for the prospects.
Besides the Yen Tu and Chi Linh structures developed on the basement highs, stratigraphic traps such as pinchout traps in the transition zones and sand bodies in the southern part of Block 106 exist.
The Chi Linh prospect is of relatively simple structure and its location is favorable for hydrocarbon migration and accumulation. Therefore, hydrocarbon potential of this prospect depends mainly on the seals and reservoir rocks.
The Yen Tu prospect was developed on a basement high. This prospect is interpreted to be pre-Tertiary as evidenced on the seismic sections. The prospect is composed of many compartments with various characterizations, possibly due to faulting reactivation, pull-apart and compression processes.
