Eni, Petrovietnam in offshore Vietnam co-op deal

Eni’s CEO, Claudio Descalzi, has signed today with Petrovietnam’s President and CEO, Do Van Hau, two Production Sharing Contracts (PSCs) for the exploration of blocks 116 and 124, located off the coast of Vietnam.

Block 116 covers an area of about 5,000 sqkm in the Song Hong basin, in waters with a depth ranging from 10 to 120 meters. The PSC block, wholly owned by Eni, provides for an exploration period of seven years divided into 3 phases.

Block 124 covers an area of 6,000 sqkm in the Phu Khanh basin, in waters that have a depth ranging from 50 to 2,600 meters. The PSC provides for an exploration period of seven years divided into 2 phases. This block is held by Eni, which is the operator with a 60% stake, and by Santos Vietnam with a 40% stake.

Claudio Descalzi also met Hoang Trung Hai, Deputy Prime Minister with responsibility for Trade, Industry, Construction and Transport, and provided him with an update of the activities and projects that the Company is developing in the Country.

“The participation in these two new high-potential blocks will consolidate our presence in the area and support our growth in the Pacific basin. The proximity of these blocks to those which we already operate will enable us to exploit at best the logistical and operational synergies, with considerable savings in terms of time and costs,” said Eni’s CEO Claudio Descalzi.

These new agreements confirm Eni’s interest to continue and consolidate its presence in Vietnam, where the company returned in 2012 and already operates four offshore exploration blocks.

 

Press Release

 

Share this article

Follow Offshore Energy Today

Events>

<< Mar 2020 >>
MTWTFSS
24 25 26 27 28 29 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Navingo Career Event

The Navingo Career Event is Europe’s biggest career event for the maritime…

read more >

Offshore Technology Conference (OTC) 2020 Postponed

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

OWI APAC 2020

Over the two-day conference, 30 expert speakers will share exclusive insight to help drive well work efficiencies through innovative…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply