Talisman to invest $ 1.1 bn in Vietnam oil fields

Canada's Talisman Energy plans to invest $ 1.1 bn to develop commercial production of two offshore oilfields in Vietnam.
Michael Horn, Talisman's representative in Vietnam, was quoted as saying the company would make the investment in Hai Su Trang and Hai Su Den fields.

State oil firm PetroVietnam said it estimated Hai Su Den and Hai Su Trang held 171.2 mm barrels and 59.6 mm barrels of crude oil reserves respectively.
"The production from the two fields would help PetroVietnam maintain crude oil output in 2011 as well as ensure national energy security," PetroVietnam said.

The two fields, part of a larger joint exploration project between Talisman and PetroVietnam in Vietnam's offshore block 15-2/01, would be put into commercial production by September 2011, PetroVietnam said earlier. Combined production from the two fields is estimated at 35,000 bpd, PetroVietnam said.
PetroVietnam, which has a 40 % stake in the joint venture, also said it had discovered a smaller field nearby called Hai Su Bac, with tests showing flow of around 600 barrels of crude oil per day.