ID :
14317
Wed, 07/30/2008 - 11:05
Auther :
Shortlink :
http://m.oananews.org//node/14317
The shortlink copeid
PTTEP to start oil production in Vietnam
BANGKOK, July 30 (TNA) - Thailand's PTTEP, the exploration and production arm of Stock Exchange of Thailand (SET)-listed oil and gas conglomerate PTT, said it will soon start producing crude oil from an offshore site in southern Vietnam.
Initial output from Project Vietnam 9-2, located 140 kilometres off Vietnam's southern coast from Vung Tao city is forecast at 20,000 barrels of crude oil per day and up to 50 million cubic feet of natural gas perday, according to PTTEP Chief Executive Officer Anant Saengsirithaksin.
Exploration located the reserve back in 2003 at the site, but it was not until 2007 that the Vietnamese government awarded two concessions, one ofwhich is Project 9-2.
The site is now operated commercially by an investment consortium including the PTTEP Hoang Vu Joint Operating Company in which PTTEP holds 50 per cent share, and another 25 per cent through its subsidiary, withSOCO Vietnam Ltd owning 25 per cent.
In addition, PTTEP plans to produce from another investment project in Vietnam in 2011. (TNA)
Initial output from Project Vietnam 9-2, located 140 kilometres off Vietnam's southern coast from Vung Tao city is forecast at 20,000 barrels of crude oil per day and up to 50 million cubic feet of natural gas perday, according to PTTEP Chief Executive Officer Anant Saengsirithaksin.
Exploration located the reserve back in 2003 at the site, but it was not until 2007 that the Vietnamese government awarded two concessions, one ofwhich is Project 9-2.
The site is now operated commercially by an investment consortium including the PTTEP Hoang Vu Joint Operating Company in which PTTEP holds 50 per cent share, and another 25 per cent through its subsidiary, withSOCO Vietnam Ltd owning 25 per cent.
In addition, PTTEP plans to produce from another investment project in Vietnam in 2011. (TNA)
