Petronas Carigali Overseas Sdn. Bhd. and its partners have found oil at Ham Rong field in Blocks 102 and 106 offshore Vietnam, state-run Vietnam Oil and Gas Group, or PetroVietnam said Monday.
The Ham Rong field has crude oil reserves of 138.11 million barrels and gas reserves of 4.94 billion cubic meters, of which 43.43 million barrels of crude and 1.55 billion cubic meters of gas are recoverable, PetroVietnam said in a statement.
First oil production from the field is scheduled for the third quarter of 2014, it said.
Petronas Carigali Overseas holds a 50% stake in the blocks, while PetroVietnam Exploration & Production and Singapore Petroleum Co. each have 20% and ATI Petroleum Inc. has 10%.
