Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden) -- Ignore unavailable to you. Want to Upgrade?

To: Tomas who wrote (1835)	9/5/2000 5:40:32 PM
From: Tomas	Read Replies (3) \| Respond to of 2742

Vietnam Climbing Crude League Ladder HANOI, September 5 (energy24.com) - There is no shortage of plans in Vietnam to cement the country's increasing strength as a crude producer, say reports from Hanoi. According to the state press agency, Vietnam is now the fourth largest crude producer in South-East Asia, behind Indonesia, Malaysia, and Brunei. This year it is aiming to add another 5 million tonnes of crude production, bringing total output to 20 million tonnes per annum, and quadruple gas production to four billion cubic metres of gas, the reports say. Vietnam's strength has been largely built by VietsovPetro, the oil and gas joint venture with Russia. Its White Tiger and Nine Dragons fields have contributed 80 per cent of oil output and 100 per cent of gas output to date. But significant growth is expected with the increasing number of production sharing agreements which now involve nearly 50 international oil and gas companies. According to a VNA report, reprinted on the Nhan Dan website, exploration will mainly focus on the Vinh Bac Bo (Tonkin Gulf) in the 2000-2010 period. Vietnam Oil and Gas Corporation (PetroVietnam) says a series of oil and gas exploration and exploitation contracts with foreign partners will be signed shortly. PetroVietnam believes that the 60 billion cubic metres Lan Tay-Lan Do gas well in the Nam Con Son oil field will be exploited in 2002 when a pipeline to bring gas to the Phu My power plant in Ba Ria-Vung Tau province has been installed. A year later, in 2003, PetroVietnam will exploit gas at Bungakewa well in the southwestern region, and in other areas, including Lots 46, 50, 51-B, and 52-97, with an estimated output of 2.5 billion cubic metres of gas. Similar operations will be conducted on a trial basis later this year in Thai Binh province in the northern Red River delta, the report added.