Vietnam Phuong Dong field to pump oil this month
08-AUG-2008 Intellasia | Reuters
Aug 8, 2008 - 7:00:00 AM
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Vietnam's Phuong Dong field is expected to start commercial oil production later this month, producing about 2,000 barrels to 3,000 barrels per day, its operator said.
The field is located offshore in block 15-2, near the existing Rang Dong oilfield, PetroVietnam's oil production arm PVEP said in a report seen on Wednesday.
"Phuong Dong production is very small and its crude will be blended and sold as Rang Dong crude," a PetroVietnam official said.
He said production from Rang Dong, which now churns about about 35,000 bpd, would be raised to 37,000 bpd to 38,000 bpd when Phuong Dong crude is added.
PetroVietnam and Japan's Nippon Oil Corp 5001.T jointly own Phuong Dong but the stake percentage is unclear while Rang Dong is 46.5% owned by Nippon Oil Corp and 36% owned by ConocoPhillips COP.N
PVEP holds the remaining 17.5% in Rang Dong.
Phuong Dong will be PetroVietnam's third new oil field put into production this year following Su Tu Vang and Ca Ngu Vang fields in July.
Vietnam now ranks Southeast Asia's third-largest crude oil producer with daily production in July averaging about 290,000 bpd.
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