WRITE for ATol ADVERTISE MEDIA KIT GET ATol BY EMAIL ABOUT ATol CONTACT US
Asia Time Online - Daily News
             
Asia Times Chinese
AT Chinese



    South Asia
     May 26, 2006
Indian firm drills offshore Vietnam

HANOI - The Vietnam Oil and Gas Corporation (PetroVienam) signed a contract with India's ONGC Videsh Ltd (OVL), which will drill wells at two blocks (127 and 128) offshore Vietnam.

This is the 53rd contract signed by PetroVietnam with foreign partners since 1988 and the third in 2006.



Located in Phu Khanh Basin, north of Phan Thiet town in the central coastal province of Binh Thuan, blocks 127 and 128 cover areas of 9,246 and 7,058 sq km, respectively. They are among Phu Khanh basin's blocks put to auction in October 2004.

Under the seven-year contract, ONGC, contract manager, will drill three wells for oil exploration and exploitation during the first three years. PetroVietnam will be entitled to 20% of the benefits to be gained from the contract once oil is discovered.

(VNA/Asia Pulse)

 

 
 



All material on this website is copyright and may not be republished in any form without written permission.
© Copyright 1999 - 2006 Asia Times Online Ltd.
Head Office: Rm 202, Hau Fook Mansion, No. 8 Hau Fook St., Kowloon, Hong Kong
Thailand Bureau: 11/13 Petchkasem Road, Hua Hin, Prachuab Kirikhan, Thailand 77110