Petronas : Vietnam oil field output to rise
HANOI - Crude oil output from Vietnam's Ruby field, the country's fifth largest, is set to rise by up to 23.5% to 21,000 barrels per day (bpd) after a new drilling platform is installed, a Petrovietnam source said yesterday.
Petronas Carigali Vietnam, a subsidiary of Petroliam Nasional Bhd (Petronas), which holds an 85% stake in the field, is the operator of the Ruby field.
Ruby crude output currently stands at 17,000 bpd and the production rise is scheduled at the end of this month after the installation of the drilling platform is completed, said the official from state oil monopoly Petrovietnam.
Ruby's floating production, storage and offloading vessel, the Ruby Princess, has a daily processing capacity of 30,000 barrels and could store around 900,000 barrels of crude oil.
Meanwhile, Petronas said in a statement yesterday it had signed two deals with Uzbekistan in a move that would boost cooperation in the oil and gas sector between the two countries.
Petronas signed the deal with Uzbekistan's national oil company, Uzbekneftegaz National Holding Co (UNG), to explore oil and gas opportunities in both countries.
A joint study agreement has also been signed to conduct a joint technical study in Uzbekistan's Baisun Investment Block.
The study, expected to be completed in 18 months, would “pave the way for the execution of a production sharing agreement for the onshore block,” the statement said.
The deals were signed in Kuala Lumpur yesterday in conjunction with the visit of Uzbek President Islam Karimov to Malaysia.
The Associated Press - October 04, 2005.
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