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NEWS UPDATES 27 February 2010

Japan’s energy firm to start oil production in Vietnam

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Idemitsu Kosan Co., Ltd. announced that its subsidiary, Idemitsu Cuu Long Petroleum Co., Ltd. commenced the commercial production from the Nam Rong - Doi Moi oil field (the NR-DM oil field) offshore Vietnam on February 25, 2010, reported

The NR-DM oil field spans Blocks 09-3 and 09-1, and is situated about 135 kilometers offshore and due southeast of Vung Tau city in southern Vietnam.

The oil field has been developed jointly by the Blocks 09-3 and 09-1 licensers, after the commercial discovery declaration in December 2007. The expected production rate of the Nam Rong - Doi Moi oil field is about 20,000 barrels of oil per day.

Situated in waters measuring 50 meters deep, the Nam Rong-Doi Moi oil field is located about 20 kilometers south of the Back Ho and Rong oil fields on Block 09-1 offshore Vietnam. Participating partners on Block 09-3 include Zarubezhneft with 50 percent, Petrovietnam with 35 percent and Idemitsu Cuu Long with 15 percent.


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