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Vietsovpetro inaugurates Tho Trang 03 oil rig

Vietsovpetro, a joint Vietnamese-Russian oil and gas enterprise on May 7 began operating the Tho Trang 03 oil rig (White Rabbit) at well 37P offshore of the southern province of Ba Ria-Vung Tau.
Vietsovpetro inaugurates Tho Trang 03 oil rig ảnh 1Illustrative image (Source: PVN)
BaRia – Vung Tau (VNA) – Vietsovpetro, ajoint Vietnamese-Russian oil and gas enterprise on May 7 began operating the Tho Trang 03 oil rig (WhiteRabbit) at well 37P offshore of the southern province of Ba Ria-Vung Tau, 13days ahead of schedule.

The oil rig, designed toaccommodate 12 wells, is expected to yield3,000 tonnes of oil and 1.5 million cu.m of gas per day.

Located in a 47m-deep water area in lot09-1, the construction and installation of the rig began in June 2016.

Toensure exploitation of 5 million tonnes of oil in 2017 and maintain stableproduction in the future, Vietsovpetro has workedhard to increase reserves.

Vietsovpetro is striving to pump more than 24.4million tonnes of crude oil by 2020.

Revenue from oil is forecast to stand at 11.6billion USD by 2020. However, Vietsovpetro is asking for the Vietnam NationalOil and Gas Group’s support to assure sufficient funds for production, due tofinancial imbalances spurred by a steep fall in oil prices.-VNA


VNA
#Vietsovpetro#joint venture#Trang 03 oil rig#well 37P#Ba Ria-Vung Tau#reserves#production#exploitation#Vietnam National Oil and Gas Group#financial imbalance#oil price
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