Eni signs two PSCs for offshore Vietnam exploration

Offshore staff

HANOIEni has signed two production sharing contracts (PSCs) with PetroVietnam for the exploration of blocks 116 and 124, located off the coast of Vietnam.

Block 116 covers 5,000 sq km (1,931 sq ft) in the Song Hong basin, in waters ranging from 10 m (33 ft) to 120 m (394 ft) deep. The PSC block, wholly owned by Eni, provides for an exploration period of seven years divided into three phases.

Block 124 covers 6,000 sq km (2,317 sq mi) in the Phu Khanh basin, in waters that have a depth ranging from 50 m (164 ft) to 2,600 m (8,530 ft). The PSC provides for an exploration period of seven years divided into two phases. Eni operates this block, with a 60% stake; Santos Vietnam holds a 40% stake.

10/13/2014

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