South China sea off Viet Nam to see more exploration
British and Japanese operators are posed for exploration campaigns off southern Viet Nam. This paper reports that a 50-50 partnership of Lasmo International Ltd., London, and C. Itoh Exploration Co. of Japan signed a heads of agreement covering Block 04-2, and AEDC Vietnam Oil Development Co. and Teikoku Oil Co. acquired Block 05-3 under a production sharing contract. AEDC is a unit of AOC Energy Development Co., a subsidiary of Arabian Oil Co. (AOC) of Japan. Both tracts are in the Con Son basin in the South China Sea. Site is 15 km north of 500 million bbl Dai Hung (Big Bear) oil field for which state owned Petrovietnam is evaluating bids to place on production. A unit of the Royal Dutch/shell Group acquired a west offset, Block 10, early this year. The Lasmo-C. Itoh acreage is among five blocks offered in Vietnam's second round of offshore licensing. All are in the area that once was reserved entirely for Vietsovpetro, a partnership of Petrovietnam and the former Soviet Union.
- OSTI ID:
- 5160043
- Journal Information:
- Oil and Gas Journal; (United States), Vol. 90:24; ISSN 0030-1388
- Country of Publication:
- United States
- Language:
- English
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PETROLEUM DEPOSITS
EXPLORATION
VIET NAM
JAPAN
JOINT VENTURES
UNITED KINGDOM
ASIA
COOPERATION
DEVELOPED COUNTRIES
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EUROPE
GEOLOGIC DEPOSITS
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020200* - Petroleum- Reserves
Geology
& Exploration
020700 - Petroleum- Economics
Industrial
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