Thailand’s PTT Exploration and Production PCL (PTTEP) said on Wednesday April 26 the Vietnam government had given its subsidiary approval to begin commercial operations at the offshore 9-2 block at the end of 2007.
The block off the southeastern Vietnam coast would start crude oil production at about 20,000 barrels per day, the company said in a statement.
Subsidiary PTTEP Hoang Vu Co Ltd has a 25% interest in the block. Other partners are SOCO Vietnam Ltd with a 25% stake and PetroVietnam Exploration and Production Co., which has a 50% interest.
PTTEP Hoang also operates the offshore 16-1 block in Vietnam jointly with SOCO and PetroVietnam and planned to start commercial operations there in 2007, the company has said.