Idemitsu, Partners Find Gas Offshore Vietnam

Idemitsu Oil & Gas Co., JX Nippon Oil & Gas Exploration Corporation and Teikoku Oil (Con Son) Co., Ltd. discovered gas and condensate at the fourth well in Blocks 05-1b and 05-1c offshore southern Vietnam.

Blocks 05-1b and 05-1c are located 300 km southeast of Ho Chi Minh City. The well was spudded in February 2014. The drill stem tests (DST) were carried out in May and August, and accumulations of gas and condensate were discovered, Idemitsu said in a statement Wednesday.

“Discovery of gas and condensate at this exploration well follows discovery of oil and gas accumulations at other wells drilled in Blocks 05-1b and 05-1c. A detailed reservoir evaluation will be carried out in conjunction with further evaluation of other potential prospects in these blocks,” the company said.

In October 2004, the partners jointly entered into a Production Sharing Contract with Petrovietnam for the two blocks.