Total finds oil in Vietnam

COURBEVOIE, France, Nov. 23 (UPI) -- French supermajor Total announced a new discovery of light crude oil off the coast of Vung Tau in the south of Vietnam in the Mekong delta region.

Total, through its Total E&P Vietnam subsidiary, announced it discovered oil in its Lac Da Nau offshore prospect in block 15-1/05. The prospect is located more than 65 miles east of Vung Tau and about 40 miles off the coast.

The well is the first exploration well drilled and the first discovery in the block. Test flow rates reached 4,200 barrels of light crude oil per day.

Vietnam holds more than 500 million barrels of proven oil reserves, most of which is located in offshore fields.

Total lists its share of production in the region at around 246,000 barrels of oil equivalent per day in 2008.