Block 11-2 is a producing conventional gas field located in shallow water in Vietnam and is operated by Korea National Oil. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, the field is located in block Block 11-2, with water depth of 279 feet. Buy the profile here.
Field participation details
The field is owned by Korea National Oil and Vietnam National Oil and Gas Group.
Production from Block 11-2
The Block 11-2 conventional gas field recovered 94.49% of its total recoverable reserves, with peak production in 2013. The peak production was approximately 7.27 thousand bpd of crude oil and condensate and 171.00 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2026. The field currently accounts for approximately 2% of the country’s daily output.
Remaining recoverable reserves
The field is expected to recover 7.88 Mmboe, comprised of 1.31 Mmbbl of crude oil & condensate and 39.40 bcf of natural gas reserves.
About Korea National Oil
Korea National Oil Corp (KNOC) is a state-owned integrated oil company that carries out the exploration, development and production of oil and gas, and stockpiling of petroleum resources. The company purchases and sells crude oil, distribute gasoline and refined products. KNOC also imports and exports crude oil and petroleum products, operates and leases stockpile facilities, and provides financing services for companies in energy, natural resources industries. It also provides other research services. The company has operations in Libya, Vietnam, Peru, Yemen, Venezuela, the US, Canada, the UK, Kazakhstan, and Iraq, among others. It carries out energy projects on behalf of the Korean government. KNOC is headquartered at Ulsan, South Korea.
For more details on the Block 11-2 Conventional Gas Field, buy the profile here.