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Pan Pacific Petroleum to begin offshore oil & gas well exploration in Block 121 and Block 07/03

Posted on : 07 Jun, 2013

June 2013 marks an important date for industry leader, Pan Pacific Petroleum (PPP), as the drilling in offshore of southern Vietnam, begins. Participating players in the Block 121 joint venture include a PPP wholly owned subsidiary – Pan Pacific Petroleum Vietnam (121), Origin Energy and Premier Oil in a 15-45-40 distribution. The “Ocean General”, a semi-submersible drilling rig to be operated by Origin Energy, will be used to drill in the Ca Voi-1X well, targeting the large Ca Voi (Whale) Prospect which “has been estimated to hold between 40 million and 200 million barrels of oil”.

 

The “Ocean General” will follow through drilling projects in two wells in Block 07/03 which has similar geological prospect with Block 121. Participating players in this project include PPPV, Premier, Vamex, Pearl and PVEP in a 5-30-25-25-15 distribution, with Premier being the operator in this project.

 

These high potential exploration projects hold intense industry interest as Block 121 contains significant potential while Block 07/03’s CRD-1X discovery well, drilled in June 2009, is known for the production of “3,265.4 barrels of oil and 8.1 million standard cubic feet of gas per day from two zones in the Miocene sands”.

 

Keep yourself updated on the development and opportunities in Vietnam and the region at CMT’s 15^th VOGP Summit, scheduled in Ho Chi Minh City on September 12-13, 2013.

 

More details on the event will be coming soon. For enquiries, please contact Ms. Huiyan at huiyan@cmtsp.com.sg or Tel. +65 6346 9113.

 

 

Read more: Origin prepares to spud Vietnam well