Talisman-led venture plans two Vietnam oilfields

Reuters Published: Wednesday, October 22, 2008

HANOI - A Vietnam oil venture led by Talisman Energy plans to start commercial production from two new oil fields in three years, the oilfield service unit PTSC under state oil Petrovietnam said.

The Hai Su Trang (White Sealion) and Hai Su Den (Black Sealion) fields would come onstream by mid-2011, PTSC said in a statement seen on Wednesday, after it signed a US$20-million contract to provide services to Thang Long JOC venture this week.

"The two fields hold large oil reserves," PTSC said, but gave no details.

The venture is 60% owned by Talisman, Canada's third largest independent oil producer, and Petrovietnam's production arm PVEP has the remaining 40%. The two fields lie in Vietnam's offshore block 15-2/01, PTSC said.

This week PVEP also said it planned to start commercial oil and gas production from three new fields near the country's second largest field Su Tu Den in the next five years.

The three fields, Su Tu Den Dong Bac, Su Tu Trang and Su Tu Nau, all located in block 15-1, were expected to come onstream from 2010 to 2013.

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