EEPL, along with Eni, an Italian major in oil and gas, holds stakes in Block-114, located in the shallow waters of Song Hong basin in Vietnam. Eni entered the project as the operator after EEPL acquired the block in March 2010. EEPL and Eni hold 45 per cent and 55 per cent participating interests, respectively.
With the minimum work programme having been completed, the block is now in the appraisal stage. As part of the minimum work commitment for exploration, 3D seismic (1007 sq. km in east and 2500 sq. kmin west of the block), drilling of the first exploration well, and 114-Ken Bau-1X, was executed in 2019. 114-KB-1X was drilled in 2019 and was declared as a gas and condensate discovery.
In 2020, ENI successfully completed drilling of second exploration well KB-2X, confirming significant hydrocarbon accumulation. Essar and ENI are planning additional drilling and testing of the Ken Bau prospects to further appraise the field. The project is important for fulfilling Vietnam’s energy needs and, in turn, its economic growth.
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