What status for Vietnam’s oil and gas reserves?

Vietnam’s oil output has been falling; last year the country’s crude oil output was around 370,000 barrel per day on average, a fall of nearly 10% (403,000 barrels/day) compared to 2004. The reduction of crude output in 2004-2005 was due to the reduced production at the White Tiger field (source: US Energy Department – EIA/DOE), from which the majority of oil flows.

This result was forecast as far back as 2001.

“According to oil and gas experts, from now to 2005, Vietnam’s crude oil output may reach 16 million tonnes per year, and it will fall very quickly if the country doesn’t find any new sources of oil. Experts also said that it is difficult to find large oil fields like the White Tiger (source: VNA March 13, 2001).
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