Singapore-based KrisEnergy is increasing its stake offshore Vietnam by taking over operatorship and all of Eni Vietnam’s interest.
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Map of Block 105. From KrisEnergy. |
Block 105 that covers 7192sq km at 20-80m water depth, in the Gulf of Tonkin, which overlies the central Song Hong basin.
According to KrisEnergy, pursuant to the deed, which is effective 31 December 2014, Eni Vietnam’s 66.67% working interest and operatorship of Block 105 will transfer to KrisEnergy 105, subject to the approval of the Ministry of Industry and Trade of Vietnam (MoIT). Before the deal, KrisEnergy held 33.33%.
In January 2015, MoIT granted a 12-month extension to the Phase 1 exploration period, to 2 February 2016. A single exploration well, Cua Lo-1, was drilled in the contract area in 2013, which confirmed the existence of a petroleum system within the block.
“Following a 12-month extension of the exploration period at the beginning of 2015, we are still keen to investigate the prospectivity of several play types in Block 105 particularly the faulted Tertiary plays on the western margin of the contract area,” says Chris Gibson-Robinson, KrisEnergy director E&P. “We are also in discussions with other parties who have expressed an interest in joining us in Block 105.”
In February, KrisEnergy increased its stake in Blocks 105 and 120 after Neon Energy dropped out of the joint operating agreement in April. At the time, Eni Vietnam said that exploration activities involved the acquisition of 3D seismic surveys and the drilling of two exploration wells.
Read more:
KrisEnergy, Eni up stake off Vietnam
http://www.oedigital.com/component/k2/item/8260-krisenergy-eni-up-stake-off-vietnam
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