Canadian Talisman signs joint oil exploration venture

PetroVietnam subsidiary PVEP has reached an agreement to form a US$20 million partnership with Canadian Talisman Energy to explore oil and gas in the Cuu Long Basin off Vietnam’s southern coast.
The company, Thang Long, will explore oil and gas in block 15-2/01, which covers 280,000 hectares in the Cuu Long Basin, about 20 kilometres off the southern Vung Tau city’s coast.
Block 15-2/01 is adjacent to Vietnam’s second biggest producing oil field, the Su Tu Den (Black Lion), which churns out around 85,000 barrels per day (bpd).
A PVEP official said the company contributes 40% of the total investment into the Thang Long Company.

 

Category: ResourceAsia