Offshore staff

(Hanoi) PETRONAS and joint venture partner Chevron have been awarded a deepwater exploration block offshore Vietnam.

The production sharing contract for Block 122 was signed between PetroVietnam, PETRONAS Carigali Overseas Sdn Bhd and Chevron Vietnam Phu Khanh (Block 122) Ltd.

Block 122 covers 6,981 square km in Vietnam's Phu Khanh Basin, and is in water depths of between 50 and 2,500 metres.

Under the terms, equal partners PETRONAS and Chevron jointly commit to acquire, process and interpret 3,000 km of 2D seismic data, reprocess 2,000 km of seismic data and drill one exploratory well during the first three of the seven-year exploration period. Chevron is the operator of the Block.

6/9/06