Vietsovpetro strikes oil off south Vietnam

The oil flow, found last Friday at the depth of between 2,552m and 2,710m, would enable the joint venture to extract 850 cubic meters, or 5,346 barrels, of crude oil a day, said Vietsovpetro General Director Tran Le Dong.

It was the first time Vietsovpetro had discovered crude reserve at the Central Rong structure, Dong added.

Vietsovpetro exploited 62 million tons of crude oil and 10 billion cubic meters of gas in the 2000-05 period.

In the period, the enterprise earned over US$15.6 billion from selling crude oil tapped from the Bach Ho (White Tiger) and Rong fields.

http://www.thanhniennews.com/business/?catid=2&newsid=14318

That's good that Vietnam is able to explore for more natural resources. Just out of curiosity, how did they come up with the name Vietsovpetro? It doesn't sound Vietnamese.

Vietsovpetro is a joint venture between Vietnam (PetroVietnam) and Soviet Union. It was established in the early 80's. In later years, PetroVietnam got stronger and takes on many drilling projects in and outside Vietnam on its own.

Thanks for the feedback.