Vietsovpetro discovers oil offshore Vietnam; 2,000 b/d flow

Vietsovpetro said Monday that it has discovered oil at a well near the Bach Ho Oil Field offshore Vietnam with a natural flow rate of 2, 000 barrels a day.

The Vietnam-Russia joint venture will start commercial oil production at the GT-1X well at the Gau Trang structure of Block 09-1, southeast of Bach Ho, in the third quarter of next year, it said in a statement.

The company announced in June that it had found oil flowing at 4,560 barrels a day at the No. 50 well northwest of Bach Ho.

Vietsovpetro, a joint venture between state-run Vietnam Oil & Gas Group, or PetroVietnam, and Russia’s JSC Zarubezhneft, reported crude-oil output of 6.4 million metric tons last year, or 129,000 barrels a day.

Source Dow Jones Newswires

Tags: Vietnam oil and gas industry, Vietsovpetro

Posted by VBN on Aug 11 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