Vietsovpetro Finds New Oil Flow Near Bach Ho Field

Vietnam's local media reported that a Russian-Vietnamese joint venture has identified a new oil flow at a well located near the Bach Ho oil field offshore Vietnam, according to Dow Jones Newswires.

Citing Vietsovpetro, the Hanoi Moi newspaper noted that the new well, Bach Ho Northeast-19, has unlocked an oil field outside of the Bach Ho field, proving the area's potential. The well flowed oil at an API gravity of 41 degrees with an average weight of 0.82 grams per cubic centimeter, the report said.

Not specifying an exact timeframe for the project, Vietsovpetro announced plans to construct an oil rig to commence production at Bach Ho Northeast-19.