The Vietnam - Russia oil and gas joint venture (Vietsovpetro) has welcomed the first flow of commercial oil from the BK-20 rig belonging to the Bach Ho field off southern Vietnam.
The initial oil flow is 288 metric tons per day, according to the Vietnam News Agency.
Putting the BK-20 rig into operation has helped increase oil and gas production of the joint venture in 2019 to 1,152 metric tons.
The Vietnamese side in Vietsovpetro reported that it earned US$722.3 million in profit in the first nine months of this year, surpassing the plan for the period by 22.7 percent.
Meanwhile, the profit of the Russian side was $111 million.
The joint venture’s crude oil exploitation, natural gas production, and supply of gas to the inland also exceeded plans by 6.7 percent, 15 percent and 54.3 percent, respectively.
The Bach Ho (White Tiger) oil field is a major oil field located offshore due east of the Mekong Delta region, in the East Vietnam Sea.
BK-20 is designed to be an unmanned wellhead platform, controlled remotely from its parent rig CPP-3.
Onshore construction of the topside of the 813-metric-ton rig was finished in September, according to Vietnam Energy magazine.