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Monday, December 14, 2015
PetroVietnam Exploration Production Corp. (PVEP) saw first commercial oil flow from its Bir Seba field in Algeria.
PVEP and its partners on the field, Sonatrach and PTT Exploration and Production, will have spent an estimated $1.26 billion when the project is complete and flowing at full capacity.
The project has seen 16 wells drilled to date in the first phase, tapping nearly 20,000 bpd. In the second phase, the total output is expected to increase to 40,000 bpd in early 2020.
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