PetroVietnam Signs Vietnam E&P Deal

20 August 2009 (Last Updated August 20th, 2009 18:30)

PetroVietnam Exploration and Production (PVEP) has signed a 25-year production sharing deal for an oil block off southern Vietnam. The Block 9-2/09 has a term of 25 years including five years for exploration work, which will include the drilling of two wells at a minimum cost of $25m.

PetroVietnam Exploration and Production (PVEP) has signed a 25-year production sharing deal for an oil block off southern Vietnam.

The Block 9-2/09 has a term of 25 years including five years for exploration work, which will include the drilling of two wells at a minimum cost of $25m.

The licence area is 140km south-east of the coastal oil city of Vung Tau, and covers an area of 1,275km² in water depths up to 70m.