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

91%

AVERAGE NET DAILY PRODUCTION RATE1

191

bbl/day
AVERAGE UNIT PRODUCTION COST1

12.6

USD/bbl
LTIF1,3

0

2P OIL RESERVES3

0.3

MMstb

NOTES:
1 For the period from 1 February 2022 to 30 June 2022.
2 As at 1 July 2022, based on FIPC Group’s current estimated net entitlement, based on RPS Energy Consultants Limited’s report dated August 2022.
3 LTIF represents the number of lost time injuries (LTI) i.e. fatality, permanent disability or time lost from work occurring in a workplace per 1 million hours worked by 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.