Illustrative photo (Photo: nangluongvietnam.vn)

Hanoi (VNA) – A new oil reserve was found in Bach Ho-47 (BH-47) well, announced the Vietnam Oil and Gas Group on December 1.

The Vietnam-Russia Oil and Gas Joint Venture Vietsovpetro discovered the oil reserve while exploiting BH-47 on November 30. It is expected to generate output of more than 610 cubic metres of oil and 110,000 cubic metres of gas a day, according to Quan Doi Nhan Dan (People’s Army) newspaper.

Upon completing trial drilling, oil well BH-47 will be reserved for future use.

The discovery of a new oil reserve shows the potential for gas and oil exploration in the north eastern area of Bach Ho well of the Cuu Long oil field in Vietnam’s continental shelf.-VNA