New Vietnam Oilfield Output Seen Below Peak at Start

Reuters

HANOI, June 10 (Reuters) – Vietnam has begun pumping around 8,000 barrels of oil per day from a new offshore oilfield, Thang Long, while production is expected to start at another nearby field late this month, state oil and gas Petrovietnam said on Tuesday.

Production began on June 6 at six wells at Thang Long field in the 01-02/97 blocks, 160 km (100 miles) east of Vietnam's Vung Tau city, Petrovietnam Exploration Production Corporation (PVEP), the production arm of Petrovietnam, said in a statement.

Dong Do field in the same area is expected to be tapped from late June by the field operator, Lam Son Joint Operating Co, an equally-owned venture between Petronas Carigali Overseas Sdn Bhd and PVEP.

Production at the Thang Long and Dong Do fields is expected to peak at 12,000-15,000 bpd, sources said.

Vietnam's state oil marketer PV Oil has sold its first cargo of Thang Long low-sulphur crude via a tender to BP.

Lam Son plans to use two wellhead platforms and a floating production, storage and offloading unit at the Thang Long and Dong Do fields, PVEP said in the statement.

Petrovietnam said it expects to produce 16.83 million tonnes, or 338,000 bpd of crude this year, a slight increase from its 2013 output and ahead of a government target.

(Reporting by Ho Binh Minh; Editing by Michael Perry)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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