LONDON — Pharos Energy has issued an update on its E&P programs offshore southern and eastern Vietnam.
At Block 9-2 in the Nam Con Son Basin, the new CNV-2PST1 well had come onstream at the CNV Field at stabilized rates of about 3,000 bbl/d, lifting overall field production above 6,000 bbl/d.
The company has submitted a revised development plan for the TGT Field that calls for drilling of two new wells. Assuming government approval, drilling should start during the second half of 2024.
In addition, the partners and PetroVietnam are finalizing five-year extensions to the TGT and CNV licenses, including licence terms and work program commitments.
Offshore eastern Vietnam the government has approved a two-year extension to Phase 1 of the exploration period for the blocks 125 and 126 production sharing contract to Nov. 8, 2025. Work is underway to secure a rig and a farm-in partner to drill a commitment well on Block 125.
Various prospects in the northwest area covered fully or partially by 3D seismic could hold oil.