Vietnam partners opt out of license

Offshore staff

NORTH SYDNEY, AustraliaPan Pacific Petroleum says the partners in block 121 offshore Vietnam are withdrawing from the license.

This follows the unsuccessful drilling of the Whale prospect (121-CV-1X) and their failure to secure an additional partner to share the costs and risk of drilling a further well on the license.

Origin Energy operates – Premier Oil is the other co-venturer.

10/06/2015

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