Rising star: the Phuong Dong field is set to start production off Vietnam
PVEP primes Phuong Dong taps
Vietnam's Phuong Dong field is expected to start commercial oil production later this month, producing between 2000 and 3000 barrels per day, PetroVietnam Exploration & Production (PVEP) said today.
The field lies near the existing Rang Dong oilfield, PVEP said in a report released today.
"Phuong Dong production is very small and its crude will be blended and sold as Rang Dong crude," a PetroVietnam official told Reuters.
He said production from Rang Dong, which now churns out about 35,000 bpd, would be raised to between 37,000 bpd and 38,000 bpd when Phuong Dong crude is added.
Phuong Dong will be PetroVietnam's second new oilfield to be put into production this year following the Ca Ngu Vang field which came on stream in July. Meanwhile, a third field, the Su Tu Vang, is due to see first oil flow in September.
Vietnam now ranks as Southeast Asia's third-largest crude producer with daily production in July averaging about 290,000 bpd.
Both the Rang Dong and Phuong Dong fields sit in Block 15-2 in the Cuu Long basin. The owners are operator Japan Vietnam Petroleum Company (JVPC), a subsidiary of Nippon Oil (46.5%), ConocoPhillips (36%) and PVEP (17.5%).