This oilfield cannot be compared with Bohai or Bach Ho oilfields which are the only 2 oilfields over 1 billion barrel mark in Asia Pacific region. Anywayz, more oil is good

http://www.thanhniennews.com/business/?cat...mp;newsid=27056

New Vietnam oil field estimated to hold 37 mln bbl

A new oilfield off Vietnam\'s southern coast is expected to hold proven and probable reserves of around 4.98 million tons of crude oil (37 million barrels), a government report said Friday.

Appraisals at the Phuong Dong oilfield in a block coded 15.2 also showed condensate reserves of around 0.73 million tons and 3.16 billion cubic meter of natural gas, the government report published on its Web site (www.vietnam.gov.vn) said.

The government ordered JVPC, the operator of the field, which is 46.5 percent owned by Nippon Oil Corp. of Japan, to conduct further tests at the field to determine the exact oil potential.

Other owners of the fields are ConocoPhillips\' and PetroVietnam\'s exploration arm PVEP, which hold 36 percent and 17.5 percent interest, respectively.

Source: Reuters