Joint venture oilfield produce 1 million tonnes of crude

ABO/NDO- The Ca Tam oilfield has pumped up 1 million tonnes of crude oil after it was put into operation three years ago.

According to the Vietnam-Russia Vietsovpetro joint venture, the field has generated a revenue of US$427.5 million and paid US$169 million to the state budget.

The rig of the Ca Tam oil field (Photo: Petrotimes).

The field exceeded its 2020 production plan by 18 percent and the figure is projected at 5 percent this year.

Besides operating a well in the field, the joint venture is designing and procuring equipment for the second to be put into operation by the end of next year, it said.

Vietsovpetro is focusing its resources on developing new oilfields in the time to come, a representative of the joint venture said.

(Source: NDO)