Singapore: KrisEnergy announced that it has been awarded 100% working interest and operatorship of the production sharing contract (PSC) for Block 115/09 offshore Vietnam following negotiations between Vietnam Oil and Gas Group (Petrovietnam) and KrisEnergy (Asia), a wholly owned subsidiary of the KrisEnergy group of companies.
“This addition to our portfolio highlights our disciplined approach to new venture acquisitions. We have taken the time necessary to secure material working interests in quality assets with work commitments commensurate to the risk-reward profile of the opportunities. We have already identified multiple petroleum plays within Block 115/09, each with the potential for commercial accumulations of gas/condensate and/or oil. We look forward to working with Petrovietnam as we mature the exploration phase commencing with the seismic acquisition and reprocessing over the next 18 months,” said Chris Gibson-Robinson, KrisEnergy’s director of exploration and production.
KrisEnergy also holds a 25% non-operated working interest in Block 105-110/04 offshore northern Vietnam and a 25% non-operated working interest in Block 120 offshore central Vietnam. [21/03/14]