SINGAPORE –KrisEnergy Ltd. has increased its working interest in block 105-110/4 and has taken operatorship of the production-sharing contract in an agreement with Eni Vietnam B.V.
Eni Vietnam’s 66.67% working interest and operatorship transfer to KrisEnergy 105, subject to the approval of the Ministry of Industry and Trade ofVietnam. Prior to the agreement, KrisEnergy 105 held 33.33% working interest in block 105.
In January 2015, the Ministry granted a 12-month extension to the Phase 1 Exploration Period to Feb. 2, 2016.
Block 105 covers 7,192 sq km (2,777 sq mi) in the Gulf of Tonkin, overlying the centralSong Hong basin where water depths range from 20 m to 80 m (65 ft to 262 ft). A single exploration well, Cua Lo-1, was drilled in the contract area in 2013, which, KrisEnergy said, confirmed the existence of a petroleum system within the block.
Chris Gibson-Robinson, KrisEnergy’s director Exploration & Production, said: “Following a 12-month extension of the exploration period at the beginning of 2015, we are still keen to investigate the prospectivity of several play types in block 105 particularly the faulted Tertiary plays on the western margin of the contract area. We are also in discussions with other parties who have expressed an interest in joining us in block 105.”