PPP backs into block offshore Vietnam

Pan Pacific Petroleum Vietnam (PPPV121) has acquired a 15% interest from Origin Energy in the block 121 production-sharing contract offshore Vietnam.

Offshore staff

NORTH SYDNEY, Australia – Pan Pacific Petroleum Vietnam (PPPV121) has acquired a 15% interest from Origin Energy in the block 121 production-sharing contract offshore Vietnam.

Realigned interests are:

  • Origin 45% (operator)
  • Premier Oil 40%
  • PPPV121 15%.

The partners are preparing to drill the first well on the large Ca Voi (Whale) prospect. The contracted semisubmersibleOcean General is due to spud Ca Voi-1X in May, although timing is subject to release of the rig from nearby Indonesian waters.

Following Ca Voi-1X, the rig is scheduled to drill two wells in block 07/03, operated by Premier. These are Ca Duc-1X on the Silver Sillago, the remaining commitment exploration well, and an additional appraisal well on Cá Rồng Đỏ (CRD), CRD-3X; the latter is subject to PetroVietnam approval.

3/18/2013

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