PetroVietnam Strikes Second Oil Discovery Offshore Vietnam

Total announced that its subsidiary, Total E&P Vietnam, and its partners on Block 15-1/05, have discovered oil in the Lac Da Vang prospect, located in the southern part of the block in the Vietnamese offshore.

The Lac Da Vang exploration well is located approximately 125 kilometers to the East of the city of Vung Tau, about 65 kilometers off the coast, and was drilled in a water depth of 48 meters. The well produced up to 3,500 barrels per day of 43 API° oil during tests.

On this Block, which was attributed in 2007, this is the second exploration well drilled and the second discovery made in less than a year. Lac Da Vang is located 15 kilometers East-North East of Lac Da Nau, the first discovery announced in November 2009.

Phu Quy Petroleum Company, a subsidiary of Petrovietnam Exploration and Production Corporation, is the operator with a 40% stake. The other partners on Block 15-1/05 are Total E&P Vietnam (35%) and SK Energy (25%).

Total Exploration & Production in Vietnam

In addition to its 35% participation in Block 15-1/05, Total signed in March 2009 a production sharing contract with PetroVietnam Exploration and Production Corporation for Blocks DBSCL-02 and DBSCL-03. Located in the Mekong delta region, these onshore blocks are held by Total (75%, operator) and PetroVietnam Exploration and Production Corporation (25%).