Vietnam: Mitra gets Malay basin block off Vietnam

By OGJ editors
HOUSTON, June 17
– A subsidiary of Mitra Energy Ltd. has signed a production sharing contract with Petrovietnam Exploration Production Corp. for Block 45 on the eastern margin of the Malay-Tho-Chu basin off Vietnam.

Mitra’s subsidiary is operator with 70% interest in the block, which covers 4,677 sq km in 50 m of water 250 miles southwest of Ho Chi Minh city. Petrovietnam EP has 30% interest.

The block is adjacent to Mitra’s existing PSCs on Blocks 46/07 and Block 51 in the well-established oil and gas province.

Acquisition of 270 sq km of 3D seismic was undertaken on Block 45 in April and May 2011 as part of the work program. Petrovietnam’s approval of the presignature seismic shoot allowed Mitra to take advantage of commercially attractive seismic vessel rates and optimum weather. Processing of the seismic data will take 6 months.

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