Hanoi: PetroVietnam and the national government have approved a farm-out of offshore exploration blocks 120 and 105-110/04 by Neon Energy and Kris Energy to Italy's Eni, Australia-listed Neon said Tuesday.
Eni will now hold a 50% operating interest in the two blocks with Neon and Southeast Asia-focused Kris holding 25% each.
The two blocks cover roughly 15,600 sq km, situated in the Song Hong and Phu Khanh basins in the Gulf of Tonkin.
The jv is chasing the procurement of a jackup rig for shallow water drilling in block 105, and a semi-sub floating rig for drilling in the moderate water depths of block 120. [23/01/13]