Total reports new oil discovery off Vietnam

23 Nov 2009

1

French oil giant Total today said that it had discovered oil on an offshore block contracted to it in Vietnam.

The oil giant said that its subsidiary, Total E&P Vietnam, and its partners had discovered oil at a depth of 45 metres in Block 15-1/05, in the Lac Da Nau prospect, located in the southern part of the block in the Vietnamese offshore.

It said, "15-01/05 LDN-1X exploration well is the first well drilled and the first discovery made on Block 15-01/05."

The well is located approximately 110 kilometers to the East of Vung Tau, about 65 kilometers off the coast, and was drilled in a water depth of 45 meters.

The well produced 4,200 barrels per day of 44 APIĀ° oil during tests performed in the basement, Total said.

Phu Quy Petroleum Operating Exploration and Production Company Limited, a subsidiary of Petrovietnam Exploration and Production Corporation, is the Operator of Block 15-1/05 with a 40-per cent stake. The other partners on Block 15-1/05 are Total E&P Vietnam (35 per cent) and SK Energy (25 per cent).

In addition to its 35 per cent participation in Block 15-1/05, Total signed in March 2009 a production sharing contract with Petrovietnam for Blocks DBSCL-02 and DBSCL-03.

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