TNK-BP set for Vietnamese gas production

Nov. 30, 2011 at 8:26 AM

MOSCOW, Nov. 30 (UPI) -- A Vietnamese subsidiary of Anglo-Russian venture TNK-BP is ready to start production from a gas field on the country's continental shelf, an executive said.

TNK Vietnam, a subsidiary of TNK-BP, announced it completed a monthlong operation to prepare infrastructure for development of the Lan Do gas field on the Vietnamese continental shelf.

"The field is ready to reach the highest levels of production during periods of high demand," said Hugh McIntosh, general director of TNK Vietnam, in a statement.

In October 2010, TNK-BP and BP announced the signing of an agreement to acquire BP's stake in the Vietnamese energy sector.

Russian natural gas company Gazprom, in July, said it was exploring offshore resources in India, Vietnam, Libya, Algeria and Venezuela.

The campaign off the coast of Vietnam represents the first technical project completed by TNK-BP outside Russia.

The company said that production should start officially late next year. Annual output from the Vietnamese field is expected at around 70 billion cubic feet.

Related UPI Stories
Latest Headlines
Trending Stories
House Majority Leader Kevin McCarthy drops bid for speaker
WikiLeaks offering $50K for video of Afghan hospital bombing
Murdoch sorry for implying Obama's not a 'real black president'
Reid sues exercise companies over eye injury
Lumber Liquidators to pay $10M in DOJ settlement