10:12 | 20/08/2015 Industry
A joint venture between Vietnamese, Thai and Algerian partners on August 12 received the first oil flow pumped from the 433a and 416b lots in Sahara desert in Algeria.
The lots belong to the Bir Sebaar (BRS) oil exploration project which is jointly run by PVEP of Viet Nam, Algeria’s SONATRACH and Thailand’s PTTEP.
The Vietnamese firm holds a 40% stake in the consortium, called Groupment Bir Seba (GBRS). Algerian and Thai partners owned 25% and 35% of share, respectively.
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./.