Vietnam Makes Oil Discovery

About 37 MMbbl of probable crude oil reserves is believed to rest under the Phuong Dong oil field on block 15.2 off southern Vietnam, according to a government report.

The report, which is available at, also reports that appraisals showed condensate reserves of 5.4 MMbbl and 3.16 bcm.

Further tests are underway to determine the exact oil reserves.

JVPC operates the field with 46.5% interest along with partners ConocoPhillips 36% and Petrovietnam (PVEP) 17.5%.

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