Japan discovers oil field offshore Vietnam

Three Japanese enterprises led by Idemitsu Kosan said they discovered gas and oil field offshore southern Vietnam, the state newspaper Thoi Bao Kinh Te Viet Nam reported.

They did not give details on reserves but said that they would provide estimates afterwards.

The discovery site is Dai Nga oil field at Block 05-1b and 05-1c, 300 kilometers from HCM City to the southeast. These blocks are near Dai Hung and Hai Thach fields.

Idemitsu Kosan and JX Nippon, an affiliate of JX Holdings, each holds 35% stake of these blocks while Inpex Corp holds the remainder.

In 2004, the companies signed an agreement to drill Dai Nga field with PetroVietnam, the national oil and gas group of Vietnam.

The exploration lasted between August and October 2010. Three companies will conduct further tests to define reserves.

Tags: Dai Nga oil field, oil field

Posted by VBN on Feb 20 2011. Filed under Oil-Gas & Petroleum. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry