Neon Energy, Eni Spud Vietnam Offshore Gas Well

Neon Energy and Eni have spudded the Cua Lo-1 exploration well in Block 105-110/04 offshore Vietnam.

The well is designed to test the large Cua Lo gas prospect, which comprises five clastic reservoir targets ranging in age from Lower Pliocene to Upper Miocene.

Netherland Sewell & Associates Inc. (NSAI) completed a Prospective Resource Assessment of Block 105 and confirmed gross unrisked prospective recoverable resources for Cua Lo of 3.9 TCF gas (best estimate) to 13.9 TCF gas (high estimate), Neon said.

Neon has a 25% interest in Block 105 while Eni holds 50%. The remaining 25% is owned by Singapore’s KrisEnergy.