New oilfield located offshore Vietnam
(VOV) -Japanese Idemitsu Kosan company on August 21 announced that it has struck oil at its fourth oil-well at plot 05-1b and 05-1c offshore southern Vietnam.
The company said the oilfield was first identified through testing carried out in May and August.
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Idemitsu plans to complete further testing in the near future to identify the full extent of reserves of the new oil field.
Two Japanese companies - Idemitsu and JX Nippon – each own 35% of shares in the oil plots while another company – Inpex Corp – holds the remaining 30% interest.