Petronas Carigali planning Song Hong Basin exploration - Vietnam
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Three offshore exploration wells are being planned by Petronas Carigali for the fourth quarter of 2008. A budget of about US$ 85 million, plus a contingent US$ 16 million, has been approved for drilling on blocks 102 and 106 in the Song Hong Basin offshore northern Vietnam. According to 10% partner ATIP, a structure containing around 18 MMb of recoverable reserves in the secondary Lower Miocene clastics reservoir will be targeted. One well will be an appraisal of the 2004 Yen Tu 1X oil discovery. A 2,000km 2D seismic survey was acquired over the blocks in late-summer 2007. Partners in blocks 102 and 106 are operator Petronas Carigali (50%), ATIP (10%), PIDC (20%) and SPC (20%).
This article is extracted from International Oil Letter, Vol 24 issue 18, published 5 May 2008.
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