The Thang Long Joint Operating Company (JOC) has struck oil at what it believes is a productive well in the Cuu Long Basin off southern Ba Ria – Vung Tau Province, the firm announced yesterday.
Well drilling tests were positive to a depth of between 2,640 and 2,700 meters, tested at an estimated rate of 5,000 barrels of oil per day (bopd).
Thang Long JOC said it would negotiate with the Hoang Long JOC for joint exploration of the field.
This was the second successful drilling well for Thang Long in that area this year, after the operator had announced significant oil rates found at the Hai Su Trang (HST) earlier this year.
The Thang Long Joint Operating Company was formed in 2005 between Talisman Vietnam, a wholly owned subsidiary of Canadian Talisman Energy Inc and PetroVietnam Exploration and Production Company (PVEP) to conduct all operations on that block.
Talisman holds a 60% working interest share in any commercial discoveries on the block with PetroVietnam affiliate PVEP holding the remaining 40 percent%.
Source: Thanh Nien
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