Vietsovpetro to Start Commercial Oil Production at Nam Rong-Doi Moi Early 2010
Vietnam-Russia Oil and Gas Joint Venture (Vietsovpetro) plans to start commercial oil production in Nam Rong-Doi Moi oilfield, offshore southern Vietnam, in early 2010.
Recently, the state-owned Vietnam Oil and Gas Group (PetroVietnam), the OAO Zarubezhneft federation, the PetroVietnam Exploration and Exploitation Corporation (PVEP), the DK Idemitsu Cuu Long Company, Vietnam-Russia Oil and Gas Joint Venture (Vietsovpetro) and the Vietnam-Russia-Japan Oil and Gas Company (VRJ) have signed a joint agreement to appoint Vietsovpetro as an operator of the oilfield.
Vietsovpetro and VRJ signed a framework agreement to develop the oilfield in September, 2008, PetroVietnam said, adding that the two sides conducted exploration activities on the field.
The oilfield, located in Block 09.3, about 135 km off the southern oil hub province of Ba Ria-Vung Tau, is estimated to contain 50 million metric tons of oil.
Zarubezhneft holds a 50% sake in the oilfield, PetroVietnam 35% and Japanese Idemitsu 15%. (Labor)
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