Repsol in talks on FPSO for CRD field offshore Vietnam
Yinson Holdings is negotiating with Repsol on the supply of an FPSO for the Cá Rồng Đỏ field in the Nam Con Son basin offshore Vietnam.
According to Pan Pacific Petroleum (PPP) which has a 5% interest in surrounding block 07/03, the field has been successfully appraised and flow tested.
Over the past years operator Repsol has performed various activities for the field development plan (FDP) in the lead-up to a final investment decision.
A decision on the FDP should follow by mid-year. PPP is assessing the potential benefits and risks, and options for funding its share of the $1.1 billion required over the next four years to drill development wells and build infrastructure.
First production is targeted for the second half of 2019.