Mitra progresses offshore Vietnam gas projects

Mitra Energy has received approval from the prime minister of Vietnam for its reserve assessment reports for the two offshore gas fields.

Offshore staff

KUALA LUMPUR, MalaysiaMitra Energy has received approval from the prime minister of Vietnam for its reserve assessment reports for the two offshore gas fields.

These are Nam Du in the block 46/07 production-sharing contract (PSC) and U Minh in the block 51 PSC.

Just before Christmas the company submitted outline development plans for both fields to Petrovietnam Exploration Production Corp. prior to further submission for prime ministerial approval.

Mitra will be assigned the 35% interest in the block 51 PSC formerly held by KUFPEC, lifting its stake to 70%, subject to final governmental approval.

CEO Paul Ebdale said: “We look forward to making further significant steps with our gas commercialization plans through 2016.”

01/18/2016

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