Tuesday, February 07, 2006

Oil and Gas: South Korean consortium discover additional reserves off Vietnam

A consortium involving South Korea's state-run oil company, the Korea National Oil Corp. (KNOC), and SK Corp., South Korea's leading oil refiner, has found additional oil reserves off the southeastern coast of Vietnam. The discovery was announced by the South Korean Commerce Ministry.

The new find in the Su Tu Vang oil field, consists of oil reserves totalling 300 million barrels and 3 trillion cubic feet of natural gas.