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Activity appears to be heating up in the Song Hong Basin offshore northern Vietnam, with a new block to be awarded and plans under way for late 2008 seismic acquisition. PetroVietnam has chosen the bid submitted by Australia's Origin Energy for Block 121. The company is currently negotiating for Production Sharing Contract (PSC). Block 121 was one of the seven blocks, 105/04, 11/04, 114, 115, 116, 120 and 121, offered by PetroVietnam in the country's Second International Bidding Round in 2007. BG recently made an unsolicited US$ 12 billion offer for Origin, as the company seeks to boost reserves in Asia.
This article is extracted from International Oil Letter, Vol 24 issue 19, published 12 May 2008.
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