Chuck Kuhn's Asia in Photos: Vietnam's 2nd largest Oil Field to product 55,000 barrels a day

Thursday, April 24, 2008

Vietnam's 2nd largest Oil Field to product 55,000 barrels a day

HANOI, April 24 (Reuters) - Vietnam's second largest oil field, Su Tu Den, is expected to produce about 55,000 barrels per day in 2008, down about 8.3 percent from last year, an official from state oil monopoly Petrovietnam said on Thursday.
"Production this year is stable but a little lower than last year," the official said but declined to provide reasons for the output decline.
He said the adjacent Su Tu Vang oilfield was expected to start commercial production in February next year and its crude would be blended into the Su Tu Den stream, boosting overall output by about 60,000 barrels per day (bpd) in 2009.
Su Tu Vang is operated by a group led by ConocoPhillips (COP.N: Quote, Profile, Research). Petrovietnam holds a 50 percent stake in both Su Tu Vang and Su Tu Den. Conoco holds 23.3 percent.
Other stakeholders include Korea National Oil Co with a 14.2 percent stake, SK Energy (096770.KS: Quote, Profile, Research) with a 9 percent stake and France's Geopetrol with 3.5 percent.
Crude output in Vietnam, which ranks the third-largest producer in Southeast Asia, is expected to ease about 5.3 percent in the April-June period from the first quarter to around 290,000 bpd, Petrovietnam executives have said.
Daily output has been running well below the peak of 434,000 barrels in January 2004, mainly due to lower production at Bach Ho, the country's biggest oilfield. Bach Ho now produces about 160,000 to 170,000 bpd.
Vietsovpetro, the operator of the field, has said production at Bach Ho would decline by an average of 20,000 bpd annually between now and 2014. (Reporting by Nguyen Nhat Lam; Editing By Ovais Subhani

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They say "

“I can’t say what made me fall in love with Vietnam - that a woman’s voice can drug you; that everything is so intense. The colors, the taste, even the rain. Nothing like the filthy rain in London. They say whatever you’re looking for, you will find here. They say you come to Vietnam and you understand a lot in a few minutes, but the rest has got to be lived. The smell: that’s the first thing that hits you, promising everything in exchange for your soul. And the heat. Your shirt is straightaway a rag. You can hardly remember your name, or what you came to escape from. But at night, there’s a breeze. The river is beautiful. You could be forgiven for thinking there was no war; that the gunshots were fireworks; that only pleasure matters. A pipe of opium, or the touch of a girl who might tell you she loves you. And then, something happens, as you knew it would. And nothing can ever be the same again.”
― Graham Greene, The Quiet American

Tips on Travel to Vietnam

It's always warm in Southeast Asia apart from high mountains, so leave the heavy clothing at home. Cotton and breathable fabrics are always better than synthetics -- although cotton does wrinkle a lot when traveling! December through April is roughly the dry season in that region, although it can still rain a little. December is a good time to go in terms of temperature -- cooler than in the humid summertime. Either way, wearing more clothing (shirt sleeves and long pants) is always more respectful towards the Asian culture, especially when visiting temples and rural areas.