Vietgazprom JOC Finds Gas, Condensate Offshore Vietnam

HANOI (Dow Jones Newswires), Oct. 6, 2010

Vietgazprom Joint Operating Co. said Wednesday that it has discovered natural gas and condensate at the Bao Vang field offshore Vietnam.

Gas is flowing at 104,500 cubic meters a day while condensate flow is 7.32 cubic meters a day from the VGP-113-BV-3X well, the company said.

Vietgazprom said it has also started drilling at another well at a depth of 160 meters in the field.

Vietgazprom, founded in 2002, is a joint venture between Russia's Gazprom OAO (OGZPY), state-run Vietnam Oil and Gas Group, or PetroVietnam, PetroVietnam Exploration Production Corp. and Gazprom Zarubezhneftegaz.

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