Vietnam At A Glance

Vietnam At A Glance

We acquired Block 46 Cai Nuoc from Repsol in January 2022 as part of the same acquisition which included three Malaysia PSCs and the PM3 CAA PSC. It lies adjacent to PM3 CAA and oil produced from Block 46 Cai Nuoc flows into the PM3 CAA facilities.

Asset Name:
Block 46 Cai Nuoc PSC

Licence:
Block 46 Cai Nuoc Production Sharing Contract

Hibiscus Petroleum’s Interest:
70%

Operator:
Talisman Vietnam Limited*

Non-operating Partner:
PetroVietnam Exploration Production Corporation Ltd.

Asset Location:
Offshore Vietnam

Water Depth:
56m

Field Life Cycle:
Production

Producing Fields:
Cai Nuoc

Development Type:
Tie-back to PM3 CAA facilities

Acquisition Completion Date:
24 January 2022

Office Locations:
Kuala Lumpur

*Operator name to be changed

Note: * Talisman Vietnam Limited is undergoing a name change. The legal entity is currently part of Hibiscus Petroleum pending the name change.

AVERAGE UPTIME1

89%

AVERAGE NET DAILY OIL PRODUCTION RATE1

166

bbl/day
AVERAGE UNIT PRODUCTION COST1

28.7

USD/bbl
LTIF1,3

0

2P OIL RESERVES3

0.2

MMstb

NOTES:
1 For the financial year ended 30 June 2023.
2 As at 1 July 2023, based on FIPC Group’s current estimated net entitlement, as per RPS Energy’s report dated August 2022 and adjusted for actual production during the 12 months ended 30 June 2023.
3 LTIF represents the frequency of lost time injuries (LTI), which includes fatalities, permanent disabilities or work hours lost due to workplace incidents, per 1 million hours worked by both employees and contractors.

KEY:

  • 2P Oil Reserves – Proven and probable oil reserves.
  • bbl – Barrels.
  • MMstb – Million stock tank barrels.
  • LTIF – Lost Time Injury Frequency.
  • USD – United States Dollar.
  • FIPC – Fortuna International Petroleum Corporation.