BP to Bring Vietnamese Fields On Steam in 2003

BP expects the Lan Tay and Lan Do gas fields to come onstream by the first quarter of 2003. The fields are located approximately 250 miles offshore the Vung Tau province in southern Vietnam. The company is focused on the development of the fields in Block 6-1, aiming to start production in early 2003. The block has 2 Tcf of proven gas reserves and a small amount of condensates, which are allocated for domestic consumption. A 400-km gas pipeline is currently under construction to transport gas from Lan Tay and Lan Do to Vung Tau, as well as other southern areas in Vietnam. Partners for Block 6-1 are BP with 35%, PetroVietnam with 20% and ONGC Videsh with 45% while partners in the pipeline are PetroVietnam with 51%, BP with 32.67% and Conoco with the remaining 16.33%.