TNK Vietnam announced it completed drilling operations at two development wells in the Lan Do field off the coast of Vietnam.
"Completion of the first two development wells is a significant milestone for our company, as it is the first-ever offshore drilling project for the TNK-BP Group," Alexander Dodds, TNK-BP's executive vice president for upstream operations, said in a statement.
The subsidiary of Russia's third-largest energy company is producing natural gas for power generation in Vietnam. The wells are to be tied into an underwater pipeline in May.
First gas is expected to move through the 12-inch pipeline during the fourth quarter of 2012. The annual production rate is expected to reach 70 billion cubic feet of natural gas.
"The project was delivered right on time and we expect first gas from the new Lan Do field as early as in October 2012," said Dodds.
TNK-BP and BP signed an agreement in 2010 to acquire BP's stake in the Vietnamese energy sector.
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