Pan Pacific updates offshore Vietnam seismic, development studies

Pan Pacific Petroleum and its partners in block 121 offshore Vietnam will decide later this year whether to proceed to exploration Phase 3, which includes a one-well drilling commitment.

Offshore staff

NORTH SYDNEY, Australia – Pan Pacific Petroleum and its partners in block 121 offshore Vietnam will decide later this year whether to proceed to exploration Phase 3, which includes a one-well drilling commitment.

They are seeking to bring in another partner to share the costs of the forward program, PPP added.

Work should be completed soon on the pre-stack depth migration of a 3D seismic survey over the Swordfish prospect. The structure is along trend from and 30 km (18.6 mi) north of the Whale prospect drilled by the 121-CV-IX well, and 30 km south of a commercial oil discovery in an adjacent block.

Processing of a2D seismic survey acquired last year over the eastern deepwater part of the block has revealed some interesting features, PPP said.

In offshore block 07/03 (PPP 5%), the focus is on assessing the commerciality of theCRD oil and gas discovery. Operator Talisman estimates resources at potentially 67 MMboe.

Talisman’s development plan calls for a tension leg wellhead platform and an FPSO, with first oil slated for 2018.

The partners aim to complete the field development plan in mid-year.

02/23/2015

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