KNOC To Ink Deal with PetroVietnam

KNOC hopes to sign a deal with PetroVietnam to receive a 130-140 million cubic feet per day supply of gas supply from the Rong Doi field. If KNOC signs the deal this year as planned, the field would go on stream between late 2004 and early 2005 in block 11-2, located approximately 168 miles from Vung Tau port, south of Ho Chi Minh City. Reserve estimates for the block are 1.2 trillion cubic feet with 900 billion cubic feet recoverable. KNOC says that the deal is in the final stages with a few issued that still need to be addressed.