Idemitsu Oil & Gas, JX Nippon Oil & Gas Exploration and Teikoku Oil have announced the discovery of oil and gas at an exploration well in blocks off the coast of Vietnam.

Discovery well 05-1c-DN-1X is located in the Dai Nga structure in blocks 05-1b and 05-1c southern, 300km south-east of Ho Chi Minh City.

Dai Nga is located 2,900-3,600m below sea level at a water depth of 120m.

Spudded in August 2010, the well reached its target depth in October that year. Drill stem tests were carried out confirming accumulations of oil and gas.

The partners will perform a detailed reservoir evaluation in conjunction with an evaluation of the blocks’ potential prospects.

The companies entered a production sharing agreement with Petrovietnam in 2004.

Operator Idemitsu owns a 35% participating interest in the blocks, with JX Nippon holding a 35% stake and Teikoku the remaining 30%.