Prime Minister Nguyen Tan Dung has approved a plan to explore crude oil at Block 15-1 northeast of the Su Tu Den (Black Lion) Field in the Cuu Long Basin, according to the Ministry of Industry and Trade.

The project, which has a total investment of more than US$713 million, will install an oilrig and a pipe system to transport crude oil from the block.

The Vietnam Oil and Gas Group (PetroVietnam) has been asked to choose contractors for the project, which is expected to pump the first oil flow in December 2009.