Vietsovpetro Makes Discovery Offshore Southern Vietnam

Vietsovpetro has discovered commercial reserves of oil and gas in the foundation layers of Well 05 in the Dai Hung (Big Bear) 10X area off the southern coast Ba Ria-Vung Tau province. The well was drilled by Diamond Offshore's semisubmersible, Ocean General.

Initial estimates of the well's production capacity are 650,000 cubic meters of gas per day and 220 cubic meters of oil. The Dai Hung field was discovered by BHP in 1993 and was put into production two years later. BHP transferred exploration and drilling rights to Petronas in 1996, which then transferred rights to Vietsovpetro in 1999.