PetroVietnam: Su Tu Trang Field Starts Gas Production

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HANOI - The Su Tu Trang field offshore southern Vietnam has started gas production, one month ahead of schedule, state-run Vietnam Oil and Gas Group, or PetroVietnam, said Friday.

The field in Block 15.1 in the Cuu Long basin is operated by Cuu Long Joint Operating Co., PetroVietnam said in a statement.

It didn't provide the field's capacity but said operations at the field have raised Cuu Long JOC's daily output to 1.3 million cubic meters.

Cuu Long JOC is also producing 40,000 barrels of crude oil a day.

The company is 50% owned by PetroVietnam Exploration and Production. ConocoPhillips owns 23.25%, Korea National Oil Corp. 14.25%, SK Innovation has 9% and Geopetrol SA 3.50%.

Copyright (c) 2012 Dow Jones & Company, Inc.

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