Vietnam’s PV Oil issues tender for three Sept Chim Sao cargoes

10 July 2013 14:12  [Source: ICIS news]

SINGAPORE (ICIS)--PV Oil, Vietnam’s state-owned Vietnamese oil marketer, issued a tender offering three cargoes of September loading Chim Sao crude oil, traders said on Wednesday.

The PV Oil tender offering comprised two 300,000 bbl Chim Sao cargoes for loading 1-7 September and 17-21 September, and one 250,000 bbl cargo for loading 26-30 September.

The tender will close on 16 July with validity until 19 July.

Previously, PV Oil awarded  a tender offering two Chim Sao cargoes for loading on 5-15 August and 23-27 August to BP and Shell at a softer level around Dated Brent (Dtd ) plus $3.70-4.00/bbl FOB (free on board) Chim Sao.

Chim Sao is light sweet crude with an API of 38.50 and a sulphur content of 0.03%.

The Chim Sao oil field is operated by Premier Oil, which has a 53.125% stake in the venture. Australia’s Santos has a 31.875% stake, while PetroVietnam has a 15% stake.

The Chim Sao project includes a single wellhead platform and a floating, processing, storage and offloading (FPSO) vessel.

The Chim Sao oil field was discovered in 2006, and was approved for development by the Government of Vietnam in December 2009. Oil production commenced in October 2011 from six wells. The field's crude oil production rate is around 25,000 bbl/day.

By: James Dennis
+65 6780 4327

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly