The first seven wells in the Su Tu Den Dong Bac (Northeast Black Lion) oil field off the southern province of Ba Ria-Vung Tau have been put into operation, said Cuu Long joint operating company (Cuu Long JOC).
The first seven wells in the Su Tu Den Dong Bac (Northeast Black Lion)oil field off the southern province of Ba Ria-Vung Tau have beenput into operation, said Cuu Long joint operating company (Cuu LongJOC).
The operation has raised Cuu Long JOC’s crude oilproduction to 95,000 barrels a day, a 20 percent increase over thecurrent level.
An official ceremony to welcome the first oilflow from oil field will be held in Hanoi on June 9.
Cuu LongJOC is a joint operating joint venture company between PetroVietnam,who holds 50 percent of stake, and a number of foreign operators, namelythe UK’s ConocoPhillips Cuu Long Co. Ltd, with 23.25 percent, theKorean National Oil Corporation (KNOC), with 14.25 percent, the RoKcompany SK, with 9 percent and Monaco’s Geopetrol company, with 3.5percent.
It was set up in September 1998 to conduct oilexploration and production in Block 15-1 on Vietnam ’s continentalshelf./.
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