New oil field discovered offshore Vietnam
HANOI - Cuu Long Joint Operating Co., the operator of Vietnam's second-largest oilfield Su Tu Den, has discovered oil at a well off the country's southern coast, state media reported on Monday.
Tests conducted at the Su Tu Nau (Brown Lion) formation in Block 15.1, adjacent to Su Tu Den, measured crude oil flow of 9,100 barrels per day (bpd), the Thoi Bao Kinh Te Vietnam newspaper quoted the firm as saying.
Details of potential crude oil reserves of Su Tu Nau were not available.
The firm said last month it planned to produce crude oil from one of its new fields, Su Tu Vang, which is also located in Block 15.1, in 2008.
Cuu Long Joint Operating Co. also operates other new oilfields, including Su Tu Trang (White Lion) and Su Tu Chua (Lion King), which have yet to go into commercial production.
State oil monopoly Petrovietnam has a 50 percent stake in the venture. U.S. oil major ConocoPhillips holds a 23.25 percent stake.
Other stakeholders include South Korea's biggest refiner, SK Corp. with 9 percent, and Korea National Oil Corp. with 14.25 percent.
Reuters - September 05, 2005.
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