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February 29, 2008

VIETNAM/ENERGY INDUSTRY
Golden Tuna field ready to start in H2

Vietnam's Ca Ngu Vang (Golden Tuna) oilfield is set to come onstream in second-half 2008, with a capacity of around 20,000 barrels per day (bpd), Reuters quoted  an official with PTT Exploration and Production (PTTEP) said on Thursday.

Thailand's PTTEP holds a 25 percent stake in offshore block 9-2, the site of Ca Ngu Vang, one of three oilfields planned to come onstream in Asia's sixth-largest oil producer this year.

"We target first oil in second-half 2008," Somporn Vongvuthipornchai, vice-president, international assets for PTTEP told the 13th Asia Upstream conference.

The Hoang Vu Joint Operating company operates the field in a joint venture between PTTEP, UK's Soco International (SIA.L: Quote, Profile, Research), which has a 25 percent stake, and state oil company Petrovietnam with a 50 percent interest.

Block 9-2 is located in Vietnam's prolific Cuu Long basin. Golden Tuna could be the second Vietnamese oilfield to come onstream this year if the Song Doc field, in block 46/02, comes online as planned in May at a rate of around 25,000 bpd.

Canada's Talisman Energy Inc and Malaysia's Petronas have a 30 percent interest each in the Song Doc oilfield, with state-run Petrovietnam holding the remaining 40 percent.


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