Vietnam-Malaysia firm makes offshore oil discovery

Hanoi, July 4: A venture between Petrovietnam and Petronas of Malaysia has discovered oil at a field off Vietnam's southern coast, state media reported on Wednesday.

Tests at the oilfield, named Dong Do, showed an oil flow of 2,500 barrels per day (bpd), the Vietnam Economic Times newspaper quoted officials from the field's operator Lam Son JOC as saying.

Dong Do field is about 5 km (3 miles) northeast of Thang Long field, where Lam Son JOC said in June it also found oil with a test flow of 4,500 bpd.

Both fields are sited in the venture's block 02/97, about 80 km (50 miles) northeast of Vietnam's biggest oil field Bach Ho.

Petrovietnam and Petronas each hold a 50-per cent stake in the oil venture.

Reuters>