Thai PTTEP Discovers Oil, Gas In Vietnam 9-2 Project

Thai PTT Exploration & Production PCL (PTTEP.TH) said Tuesday May 24 it had discovered crude oil and natural gas in the offshore Vietnam 9-2 project.
In the final test of its third appraisal well CNV-3X, PTTEP found a maximum flow rate of around 13,040 barrels of crude oil equivalent a day, comprising 9,010 barrels of crude oil a day and around 22.6 million cubic feet of gas a day, according to a filing to the Stock Exchange of Thailand.
PTTEP began drilling its third appraisal well in the project in the East Vietnam Sea Jan. 30. The drilling reached a total depth of 6,123 meters.
The Thai company has a 25% stake in the Vietnam 9-2 project, PetroVietnam Exploration Production Co. 50% and SOGO Vietnam Ltd. 25%.
PTTEP’s investment in Vietnam has been made through its 100%-owned unit PTTEP Hoan Vu Ltd.

 

Category: ResourceAsia