French oil company Total said that its Total E&P Vietnam unit and its partners on Block 15-1/05 have encountered 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, which was drilled in a water depth of 48m producing up to 3,500 barrels per day of 43 API° oil during tests, is located approximately 125km to the East of the city of Vung Tau, about 65km off the coast.
The company said that this is the second exploration well drilled and the second discovery made in less than a year on this block.
Phu Quy Petroleum Company, a subsidiary of Petrovietnam Exploration and Production, is the operator with a 40% stake while the other partners on Block 15-1/05 are Total E&P Vietnam and SK Energy holding 35% and 25% interests respectively.