Rosneft, Japan Drilling Co. to Drill Two Wells Offshore Vietnam

Rosneft and Japan Drilling Co. (JDC) have signed an agreement to drill for oil and gas offshore Vietnam.

“Rosneft Vietnam B.V., a company of Rosneft Group, and Japan Drilling Co., Ltd. (JDC) represented by its subsidiary Hakuryu 5, Inc. signed an agreement on provision and operation of the marine drilling rig HAKURYU-5, for the purposes of drilling exploration wells within the framework of Rosneft’s projects in Vietnam,” Rosneft announced Friday.

It is planned to drill two wells in Blocks 06.1 and 05-3/11 in the Nam Con Son basin offshore Vietnam in 2016.

Rosneft expects consistent implementation of drilling works at both blocks will ensure synergy between the two projects and help reduce the timelines for implementation of the works, thus maximizing the efficiency of exploration activities at the company’s Vietnamese assets.

Commenting on the document’s signing, Rosneft Chairman of the Management Board Igor Sechin noted: “We have always welcomed participation of high technology partners from Japan in implementation of the Company’s projects. Despite the difficult macroeconomic situation, today we are expanding our cooperation in the area of exploration and production of hydrocarbons by executing contracts not only in Russia, but also in Asia Pacific.”