Speaking to the media under condition of anonymity, a Korea National Oil Corp (KNOC) official said, “[KNOC] is in talks with its international business partners over the investment for further exploration of the Su Tu Vang oil field.” The official did not specify how much of the US$300 million KNOC would contribute.
Commercial production on the field, which is in Vietnam’s Block 15-1, is slated for 2006. The partners in the consortium are PetroVietnam, KNOC, SK Corp, ConocoPhillips and Geopetrol.
