NORTH SYDNEY, Australia – Pan Pacific Petroleum and its partners in block 121 offshore Vietnam will decide later this year whether to proceed to exploration Phase 3, which includes a one-well drilling commitment.
They are seeking to bring in another partner to share the costs of the forward program, PPP added.
Work should be completed soon on the pre-stack depth migration of a 3D seismic survey over the Swordfish prospect. The structure is along trend from and 30 km (18.6 mi) north of the Whale prospect drilled by the 121-CV-IX well, and 30 km south of a commercial oil discovery in an adjacent block.
Processing of a 2D seismic survey acquired last year over the eastern deepwater part of the block has revealed some interesting features, PPP said.
Talisman’s development plan calls for a tension leg wellhead platform and an FPSO, with first oil slated for 2018.
The partners aim to complete the field development plan in mid-year.