Second Oil Discovery on Offshore Block 15-1/05

Source: www.gulfoilandgas.com 9/30/2010, Location: Asia

Total announces that its subsidiary, Total E&P Vietnam, and its partners on Block 15-1/05, have discovered oil in the Lac Da Vang prospect, located in the southern part of the block in the Vietnamese offshore.

The Lac Da Vang exploration well is located approximately 125 kilometres to the East of the city of Vung Tau, about 65 kilometres off the coast, and was drilled in a water depth of 48 metres. The well produced up to 3,500 barrels per day of 43 API° oil during tests.

On this Block, which was attributed in 2007, this is the second exploration well drilled and the second discovery made in less than a year. Lac Da Vang is located 15 kilometres East-North East of Lac Da Nau, the first discovery announced in November 2009.

Phu Quy Petroleum Company, a subsidiary of Petrovietnam Exploration and Production Corporation, is the operator with a 40% stake. The other partners on Block 15-1/05 are Total E&P Vietnam (35%) and SK Energy (25%).


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