Italian oil and gas company Eni has discovered a significant hydrocarbon accumulation on the Ken Bau discovery located in Block 114, Song Hong Basin, offshore Vietnam.

The new discovery expands gas and condensate potential in the Ken Bau prospect.

Eni’s subsidiary Eni Vietnam is the operator of Block 114 with a 50% share while Essar E&P holds the remaining 50%.

Eni said that the Ken Bau 2X exploration well has been drilled at a depth of 95m below water level.

Reaching a depth of 3,658m, the well encountered several pockets of gas and condensate sandstone interbedded with Miocene age shale.

According to the company, preliminary estimates of Ken Bau hydrocarbon accumulation are in a range between seven to nine trillion cubic feet of raw gas, with 400 to 500 million barrels of associated condensates.

Eni said that it will now plug and abandon the Ken Bau 2X well.

Eni stated: “The gas market in Vietnam is rapidly growing, driven by the Country’s consistent GDP progression and consequent development of gas-to-power plants supplied by domestic resources and, in the future, imported LNG.

“Ken Bau discovery will potentially provide a fast-track solution to meet the increasing energy demand.”

Eni has been operating in Vietnam since 2013. It currently operates four blocks, all located in the Song Hong and Phu Khanh basins, offshore central Vietnam.

Last July, Eni announced that exploration well in Block 114 has discovered the presence of gas and condensate in the Ken Bau prospect.

In October 2019, Eni discovered new oil at Sidri 36 appraisal well in the Abu Rudeis Sidri development lease, in the Gulf of Suez, offshore Egypt.