Aker Solutions has been selected to provide front-end engineering design (FEED) services for development of Idemitsu Oil and Gas's resources in Nam Con Son basin in offshore Vietnam.
Aker said that the latest project in Asia Pacific marks its foray into Vietnam, a key new market.
The nine month contract is to provide FEED work for the Sao Vang and Dai Nguyet developments in blocks 05-1b and 05-1c operated by Idemitsu in the Nam Con Son basin.
Aker Solutions CEO Luis Araujo said: "We are pleased with the opportunity to for the first time work with Idemitsu Oil and Gas in such an important emerging market as Vietnam.
"This will further strengthen our reach in Asia after building an important regional base in Malaysia."
Idemitsu plans to use the FEED outcome to make an investment decision for the first phase of development at the basin.
The project is expected to involve around 100 engineers, designers and drafters out of Aker Solutions’ regional hub in Kuala Lumpur.
Idemitsu signed a contract with JX Nippon Oil & Gas Exploration and Teikoku Oil with Vietnam Oil and Gas Group on 28 October 2004 for the blocks 05-1b and 05-1c.
The blocks are located 350km south-east of Ho Chi Minh City and under the same basin as the Dai Hung field and Lan Tay/Lan Do gas fields in highly potential gas and oil producing basins.
Idemitsu Kosan operates the blocks with a 35% interest, while JX Nippon owns another 35% and the remaining 30% is owned by Teikoku Oil.
Image: The project will involve about 100 engineers, designers and drafters out of Aker Solutions’ regional hub in Kuala Lumpur. Photo: courtesy of Aker Solutions.