General manager of Cuu Long, Vu Ngoc An, said, “production from the field would rise to 95,000 bpd by June this year when more wells were added.” This increase should see the country’s overall output hit the 378,000 bpd mark by June and surpass the official Vietnamese government estimate of 378,323 bpd forecasted last month.
Reserves at the field are estimated to be at around 400 million barrels and the field is considered to be the country’s biggest offshore success since the Bach Ho field that currently accounts for 70% of Vietnam’s total output.
Su Tu Den is 50% owned by the state-run PetroVietnam. The other players are ConocoPhillips (23.25%), Korea National Oil Corp (14.25%), SK Corp (9%) and Geopetrol (3.5%).
