JX, PetroVietnam Discover Natural Gas, Condensate in Vietnam Test-Drilling

JX Holdings Inc.’s exploration unit and Vietnam Oil & Gas Group discovered natural gas and condensate while test drilling a block offshore from Vietnam.
The companies will continue to evaluate the commercial viability of the block, known as 16-2, JX Nippon Oil and Gas Exploration Corp. said today in a statement. The block is located about 120 kilometers (75 miles) off the southern coast of Vietnam, the company said.
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Source: Bloomberg