An oil field in Vietnam. Photo: binhthuan

A prospect well drilled into the Te Giac Trang field in Cuu Long basin offshore Viet Nam has yielded an oil flow of approximately 5,000 barrels per day, according to the Thang Long Joint Operating Company (Thang Long JOC).

The well in one of the Lower Miocene reservoirs, at a depth of 2640-2700m below sea level, showed that the Te Giac Trang oilfield is located on both Block 15-2/01 operated by Thang Long JOC and Block 16-1 operated by Hoang Long JOC. The oilfield is located off the coast of Vung Tau, about 125 km southwest from Ho Chi Minh City.

Following the discovery, Thang Long JOC will discuss a plan of development at Te Giac Trang field with Hoang Long JOC, a joint-venture between the Viet Nam Oil and Gas Group (PetroVietnam) and three foreign-invested companies.

This year, Thang Long JOC plans to drill three additional exploration wells in other prospective areas to evaluate the hydrocarbon potential of Block 15-2/01.

Thang Long JOC was formed on May 16, 2005 between Talisman (Viet Nam 15-2/01) Ltd. of Canada, holding 60 percent of interest share, and PetroVietnam Exploration and Production Company (PVEP) of Viet Nam, holding 40 percent.

Source: VNA