Su Tu Den pumps out 70,000 barrels per day
Tuesday, February 17, 2004
HA NOI - The Cuu Long Joint Operation Company announced yesterday that its newest oilfield, Su Tu Den, has produced 2.94 million barrels since the beginning of this year, or an average 69,000 barrels per day.
Last year, when it began pumping oil for the first time on October 29, it had averaged 60,000 barrels (bpd).
Su Tu Den (Black Lion) is the country's biggest offshore oil success since Bach Ho, which produces 70 per cent of Viet Nam's total 378,323-bpd output.
Cuu Long's general manager, Vu Ngoc An, said production from Su Tu Den would rise to 95,000 bpd by June this year when more wells began producing.
That would raise Viet Nam's overall output to around 387,000 bpd in June.
Officials at Su Tu Den, which is 50 per cent owned by the state oil company, PetroVietnam, estimate its reserves at more than 400 million barrels.
US oil major ConocoPhillips has a 23.25 per cent stake in the field, Korea National Oil Corp 14.25 per cent, South Korea's biggest oil refiner SK Corp 9 per cent and Geopetrol 3.5 per cent. - VNS