VRJ-Petroleum Makes Oil Discovery Offshore Vietnam

On September 20, 2006 oil flow with a rate of 600 cubic meters per day was achieved at Block 09-3 offshore South of Vietnam. The field is being developed by Joint Russian –Vietnamese - Japanese Venture "VRJ-Petroleum Co.", consisting of JSC Zarubezhneft (50%), General Petroleum and Gas Company PetroVietnam (35%) and Japanese company Idemitsu (15%).

The flow was achieved at the Doi Moi oilfield after carrying out the testing of the well 03-9-DM-2X at the depth of 4,130 meters. Testing will continue to be carried out on the well.

The geological reserve of hydrocarbons at Block 09-3 is still preliminary, but is estimated to hold 50-70 million tons of oil.

Block 09-3 is located 150 km from Vung Tau, and is near the area where Joint Russian-Vietnamese Venture Vietsovpetro operates (JSC Zarubezhneft holds Russian shares). A number of oilfields had already been discovered there.

The success in exploring of the south shelf of Vietnam was achieved thanks to clear and coordinated actions of old partners – Russian and Vietnamese state companies JSC Zarubezhneft, GPGC PetroVietnam with participation of Idemitsu.

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