New oilfield located offshore Vietnam
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.
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The company said the oilfield was first identified through testing carried out in May and August.
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.
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