KNOC Makes Discovery Offshore Vietnam

Korea National Oil Company has made a huge natural gas discovery offshore Vietnam. The discoveries are located in the Nam Con Son basin in the Rong Doi (Twin Dragon) and Rong Doi Tay (Twin Dragon West) gas fields. Reserves are estimated at 1.2 trillion cubic feet of natural gas and 38 million barrels of condensate.

The Nam Con Son basin began piping Vietnam's first commercial natural gas last November. Production from these new discoveries is expected to commence in 2005.

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Light Crude Oil : $45.77/BBL 2.17%
Natural Gas : $2.97/MMBtu 2.30%
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