ConocoPhillips Scores Offshore Vietnam

ConocoPhillips and its partners in the Cuu Long Joint Operating Company announced the completion of a successful exploratory well, 15-1-ST-1X, in the SuTu Trang (White Lion) field in Block 15-1 offshore Vietnam.

The ST-1X reached a total depth of 4,428 meters, encountering significant pay in multiple Tertiary zones. Three zones tested at a combined rate of 8,682 barrels of oil per day (BOPD) and 69.6 million cubic feet of natural gas per day. The crude oil API gravity ranged from 38 to 55 degrees.

Located in the Cuu Long Basin, 135 kilometers east of Ho Chi Minh City, SuTu Trang is in the southeast corner of Block 15-1 in 56 meters of water. SuTu Trang is located approximately 26 kilometers south of the SuTu Den (Black Lion) field. Technical evaluation to assess the reservoir potential of SuTu Trang is in progress.

ConocoPhillips owns interests in six blocks offshore Vietnam, with a total acreage position of nearly 6 million gross acres. The company's portfolio includes offshore acreage in Blocks 15-2, 16-2, 5-3, 133 and 134, as well as an interest in the Nam Con Son gas pipeline.

Partners in CLJOC are: ConocoPhillips, 23.25 percent; PetroVietnam Exploration and Production (a subsidiary of PetroVietnam), 50 percent; Korean National Oil Corporation, 14.25 percent; SK Corp., 9 percent; and Geopetrol, 3.5 percent.
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Brent Crude Oil : $54.46/BBL 0.96%
Light Crude Oil : $51.68/BBL 1.21%
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