Vietnam's PV Oil issues a May Su Tu Den crude tender

12 March 2014 14:05  [Source: ICIS news]

SINGAPORE (ICIS)--PV Oil, Vietnam’s state-owned oil marketer, issued a tender offering 200,000-600,000 bbl cargo of Su Tu Den crude for loading 10-31 May, sources confirmed on Wednesday.

The tender will close on 13 March and will have validity until 14 March.

Previously, PV Oil awarded a tender offering 300,000 bbl cargo of Su Tu Den crude for loading 26 April to 2 May to Petrodiamond at Dated (Dtd) BFOE (Brent/Forties/Oseberg/Ekofisk) plus $5.50-6.00/bbl FOB (free on board).

Su Tu Den is light sweet crude with an API (American Petroleum Institute) specific gravity of 36.8 and a sulphur content of 0.05%.

The Su Tu Den Field is located offshore Vietnam, approximately 150 km east of Vung Tau, in block 15-1 of the Cuu Long Basin in Vietnam.

Su Tu Den crude is processed and stored in the floating production, storage and offloading vessel (FPSO) Cuulong Thai Binh. It is then offloaded to tankers for export.

The Su Tu Den oilfield is operated by Cuu Long Joint Operating Co (CLJOC). The partners are ConocoPhillips (23.25%) and PetroVietnam (50%), Korean National Oil Corporation (KNOC) (14.25%), SK Energy (9%) and Geopetrol (3.5%) .

By: James Dennis
+65 6780 4327

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