PetroVietnam venture discovers oil on southern continental shelf

Jul 07, 2004 02:00 AM

PetroVietnam reported that its Lam Son Joint Operating Company completed drilling its first exploration well in the Thang Long structure, block 02/97, 160 km east of Ba Ria-Vung Tau coastal province.
The drilling started on May 27 at a depth of 2,817 metres and was successfully completed on July 1. Its initial test result showed new oil and gas deposit at the north-eastern region of the Cuu Long basin.

The Thang Long structure lies on southern Viet Nam's continental shelf, 27 km to the southeast of the operational Ruby oil field.
The Lam Son Joint Operating Company is a joint venture between PetroVietnam Exploration and Production Company (PVEP) and Petronas Carigali Overseas Bhd. (PCOSB) from Malaysia. The contract to explore and develop the hydrocarbon resources in Blocks 01/97 and 02/97 was signed between the PVEP and PCOSB on January 7, 2003.

Source: Vietnam News Agency
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