It will drill two production wells to develop prospective areas of the Phong Lan Dai and Lan Do fields in block 06.1 and an exploration well on the adjacent block 05-3/11.
Combining two wells into one drilling program will generate synergy between the two projects, the company says, cutting the duration of drilling operations.
Rosneft and PetroVietnam hold the project sharing contract for block 06.1. Lan Dai and Lan Do are 370 km (230 mi) from the shore in water depths of up to 190 m (623 ft). Rosneft estimates gas reserves at around 66 bcm.
The two companies also have a stake in the Nam Con Son pipeline, which transports gas and condensate from the offshore basin blocks to an onshore power generation plant.