Total: Second oil discovery with Lac Da Vang offshore Vietnam

By Phaedra Friend Troy

French major Total (NYSE:TOT) revealed that it and project partners have discovered oil on Block 15-1/05 offshore Vietnam with the Lac Da Vang prospect.

Situated on the southern part of Block 15-1/05, the Lac Da Vang exploration well is located about 125 kilometers east of the city of Vung Tau and 65 kilometers from the Vietnamese coast. The water depth at the field measures 48 meters.

During production tests, the Lac Da Vang discovery well produced up to 3,500 barrels of oil per day, which measured 43 degrees API.

This is the second well drilled and the second oil discovery made on Block 15-1/05 in less than a year. Discovered in November 2009 via the 15-01/05 LDN-1X well, the Lac Da Nau discovery flowed 4,200 barrels of 44-degree API oil during tests.

Lac Da Vang is located about 15 kilometers east-northeast of the Lac Da Nau field.

Phu Quy Petroleum Company, a subsidiary of Petrovietnam, is the operator of the block with 40 percent interest. Total holds 35 percent interest, and SK Energy holds the remaining 25 percent interest.



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