Block 15-1 is in the Cuu Long Basin, 120 miles southeast of Ho Chi Minh City, and covers 1.15 million acres. The Sutu Den discovery is a large, faulted structure in the eastern portion of the block in 154 feet of water.
The declaration follows the June completion of an extended well test of the 15-1-SD-2X (ST) sidetracked appraisal well. Commerciality is based on a comprehensive analysis of results from the three wells drilled in Block 15-1, including:
Conoco holds a 23.25-percent interest in Block 15-1, which is operated by the Cuu Long Joint Operating Company. Other partners are PetroVietnam with a50 percent interest, Korean National Oil Corporation with a14.25 percent interest, SK Corp with a 9 percent interest and Geopetrol with the remaining 3.5 percent interest.
The Sutu Vang prospect, also in Block 15-1, is expected to be drilled before year-end. Conoco's offshore Vietnam acreage totals more than 5.75 million acres. The company currently is the largest acreage holder of any foreign oil company in Vietnam.
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