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SK Energy finds oil deposit in Vietnam
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November 19, 2009
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SK Energy Co., Korea’s leading refiner, has discovered an oil deposit at a jointly owned offshore field in Vietnam, the Seoul government said yesterday.
The company discovered the crude deposit in the 15-1/05 block, in which it holds a 25 percent stake, the Ministry of Knowledge Economy said. The company has been drilling since August and “found good quality oil and pumped out 4,300 barrels per day during a trial run,” the ministry said in a release.
The block, located southeast of Ho Chi Minh City, is jointly owned by Vietnam’s state-run PetroVietnam Exploration Production Corp. and France’s oil giant Total. PVEP holds a 40 percent stake in the field with Total’s share standing at 35 percent.
The discovery marks the second time that the Korean energy company has found oil in the Southeast Asian country, following the nearby 15-1 block in cooperation with Korea National Oil Corp. Yonhap
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