Nippon Mitsubishi Oil Corp., the nation's largest oil refiner and distributor, said Thursday its subsidiary has confirmed supplies of about 8,000 barrels a day of crude oil in test drillings in an appraisal well off Vietnam.
The well, run by Japan Vietnam Petroleum Co., is located in the southern part of the Rang Dong oil field, about 100 km to 150 km southeast of Vung Tau, southern Vietnam, the company said. Nippon Mitsubishi has a 53 percent stake in Japan Vietnam Petroleum Co.
Japan Vietnam Petroleum holds a 46.5 percent stake in the Rang Dong field. Conoco Inc. of the United States has a 36 percent stake and a unit of Vietnam's state oil company, PetroVietnam, has a 17.5 percent stake.
Nippon Mitsubishi confirmed supplies of 8,500 barrels a day of crude oil in test drilling at a different site in the southern part of the Rang Dong oil field late last year.
The partners currently produce 50,000 barrels per day of crude oil in the northern part of the field.