Vietnam JV Partners to Drill at Ca Ngu Prospect

Offshore Vietnam Block 120 Joint Venture has selected the Ca Ngu Prospect for drilling, and that Petrovietnam has approved the well location.

Partners in JV are Eni Vietnam (Operator) 50%; Neon Energy 25%; KrisEnergy 25%.

The Ca Ngu Prospect was identified by the 500km2 3D seismic programme, completed in mid 2012. The primary objectives are clastic reservoirs of Pliocene age, and the underlying carbonate reservoir of Miocene age. The high quality 3D seismic data reveals a significantly thicker Oligocene synrift section than previously thought, which potentially increases the volume of mature source rock available to generate hydrocarbons and also opens up the possibility of a gas play within the block.

The Ca Ngu Prospect has been selected as a 'play finder' well in that it is considered to offer the best chance of success of finding hydrocarbons at a number of levels.