Thailand's PTTEP to Start Oil Commercial Production in Vietnam Late 2007
Thailand's PTT Exploration and Production PCL (PTTEP) yesterday announced that its joint venture in Vietnam has obtained approval from the Vietnamese government to begin commercial operations at the offshore 09-2 block at the end of 2007.
The 09-2 block, offshore southern Vung Tau City - the oil and gas hub of Vietnam, would start crude oil production at about 20,000 barrel per day, PTTEP said.
PTTEP’s subsidiary Hoan Vu Co. Ltd holds a 25 per cent interest in the block, the UK’ Soco 25 per cent and Vietnam’s PetroVietnam 50 per cent.
PTTEP also has another subsidiary in Vietnam, the Hoang Long JOC, which keeps a 28.5 per cent stake in the block 16-1, also offshore Vung Tau City. PetroVietnam holds 41 per cent stake, Soco 28.5 per cent and OPECO Vietnam Ltd 2 per cent.
The joint venture also expects to tap crude oil from this block in 2007.
Thanh Nien
Vietnamese
