Thai PTTEP starts production in Vietnam's CNV field

BANGKOK, July 28 (Reuters) - Thailand's PTT Exploration and Production PTTE.BK (PTTEP) said on Monday its Vietnam 9-2 project had started crude and natural gas production on July 25.

PTTEP, a subsidiary of energy company PTT PTT.BK, said crude production from the Ca Ngu Vang field was expected to reach 20,000 barrels per day (bpd) and gas production 50 million standard cubic feet per day (mmscfd) by the end of 2008.

Currently, production averages 8,000 bpd of crude oil and 20 mmscfd of natural gas, it said in a statement to the Thai stock exchange.

The offshore Vietnam 9-2 project, 140 km (86.99 miles) off Vung Tao City in Vietnam, is the first block PTTEP has in Vietnam that has started production.

PTTEP, the country's second largest oil and gas producer, owns a 25 percent stake in the project through a subsidiary, while state oil group PetroVietnam Exploration Production has 50 percent and SOCO Vietnam (SIA.L) holds the remaining 25 percent.

PTTEP shares were up 0.67 percent at 151 baht at 0849 GMT on Monday. (Reporting by Ploy Chitsomboon; Editing by Alan Raybould)