Vietnam’s Dung Quat diversifies crude oil input

Vietnam’s first oil refinery, Dung Quat, is scheduled to receive new crude oil feed from Nam Rong-Doi Moi field this month, diversifying from Bach Ho oil, state oil group Petrovietnam said.

A total of 100,000 barrels of Nam Rong-Doi Moi oil from block 09-3 lying adjacent to the Bach Ho field in block 09-1 would be sent to the 140,000-bpd Dung Quat, which has been designed to process Bach Ho oil, the group said in a statement.

State oil marketer PV Oil closed a tender last Friday to sell 600,000 to 900,000 barrels of April-loading Bach Ho crude, traders said, in an irregular export tender. [ID:nTOE62402P]

Nam Rong-Doi Moi field, founded in 2004, started commercial output on Jan. 29 and now provides more than 700 tonnes, or around 5,100 barrels, a day from four wells, Petrovienam said, adding that output was expected to rise.

Japanese refiner Idemitsu Kosan Co <5019.T> said last month Nam Rong-Doi Moi was expected to produce 20,000 bpd.

Idemitsu’s subsidiary, Idemitsu Cuu Long Petroleum Co, has a 15 percent stake in the venture that operates the field, along with Russia’s Zarubezhneft with a 50 percent stake and a Petrovietnam subsidiary that has 35 percent.

Reuters

Tags: Dung Quat oil refinery, Vietnam gas, Vietnam oil, Vietnam oil and gas