Petrovietnam group gauges oil find off Vietnam

A group led by a unit of PetroVietnam Exploration & Production Corp. has gauged a light oil discovery, its second, on the southern part of Block 15-1/05 off southern Vietnam.

Sept. 30, 2010

By OGJ editors
HOUSTON, Sept. 30 – A group led by a unit of PetroVietnam Exploration & Production Corp. has gauged a light oil discovery, its second, on the southern part of Block 15-1/05 off southern Vietnam.

The well on the Lac Da Vang prospect produced as much as 3,500 b/d of 43° gravity oil on tests. It is 125 km east of Vung Tau and 65 km off the coast in 48 m of water.

Lac Da Vang is 15 km east-northeast of Lac Da Nau, the first discovery disclosed in November 2009.

Phu Quy Petroleum Co., a subsidiary of PetroVietnam E&P, is block operator with a 40% stake. Total E&P Vietnam has 35%, and SK Energy has 25%.

Total noted that it also holds 75% interest and operates a production sharing contract with Petrovietnam on blocks DBSCL-02 and DBSCL-03 in the Mekong Delta. PetroVietnam holds the other 25%.