The oil flow is from the 433a and 416b lots of Bir Sebaar (BRS) oil exploration project, jointly run by PVEP in a venture with Algeria’s SONATRACH and Thailand’s PTTEP.
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The Vietnamese firm holds a 40 percent stake in the consortium, called Groupment Bir Seba (GBRS), whereas the respective shares of the Algerian and Thai partners are 25 percent and 35 percent.
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In the coming weeks, the GBRS will start exploiting the remaining three oil wells, namely BRS-9, BRS12 and BRS14, to increase the capacity to 20,000 barrels a day.
This is the first successful overseas project of PVEP and PVN, where they participated in international competitive bidding and exploration.
