PetroVietnam Makes Discovery on Su Tu Trang Field

PetroVietnam has made a new gas and condensate discovery on its Su Tu Trang (White Lion) oilfield. "The discovery is the biggest gas find so far (in Vietnam)," Dinh Huu Loc, director of international cooperation said. Loc said the field operator, Cuu Long Joint Operation (CLJOC), which is 50-percent owned by Petrovietnam, offered a preliminary estimate of more than 170 billion cubic meters of "wet gas" reserves. Wet gas is gas produced in association with condensate, and has high methane and low ethane content. "The gas in Su Tu Trang has high commercial value as it has a good level of associated condensate," Loc said, declining to elaborate on a production schedule.

Su Tu Trang is in Block 15.1 in the Cuu Long Basin, adjacent to the Su Tu Den (Black Lion) oilfield, which holds a reserve of between 100 million and 400 million barrels of crude and produced its first oil this week.

Other partners in the field besides PetroVietnam are ConocoPhillips with 23.25%; KNOC with 14.25%; SK Corp ith 9% and Geopetrol with 3.5%.

The joint venture is also planning an appraisal well for Su Tu Vang (Golden Lion), also in Block 15.1, by the end of the year.