Pan Pacific Petroleum to Drill Three Wells in Vietnam

Source: www.gulfoilandgas.com 3/18/2013, Location: Asia

Pan Pacific Petroleum (PPP) and Origin Energy are pleased to announce that a wholly owned subsidiary of Pan Pacific Petroleum, Pan Pacific Petroleum Vietnam (121) Pty Ltd (PPPV121), has completed the acquisition of a 15% interest in the Block 121 Production Sharing Contract, offshore Vietnam, from Origin Energy (Song Hong) Pte. Ltd.(Origin).

Participating interests in Block 121 are:
PPPV121 15%
Origin 45% (operator)
Premier Oil 40%

The Block 121 Joint Venture is now preparing to drill the large Ca Voi (Whale) prospect. Origin, on behalf of the Joint Venture, has contracted the Ocean General semi-submersible drilling rig to drill Ca Voi-1 with a spud date scheduled for May 2013, with timing subject to the date of the release of the rig to Origin from nearby Indonesian waters.

Block 07/03

Following Ca Voi-1X, the Ocean General is currently scheduled to drill two wells in Block 07/03, operated by Premier. These are the Ca Duc-1X well on the Silver Sillago prospect as the remaining exploration wildcat commitment well, and an additional Ca Rong Do (CRD) appraisal well, CRD-3X; the latter subject to PetroVietnam approval. Depending on the timing of Ca Voi-1X, the Ocean General drilling unit is currently expected to commence the two well drilling programme in 07/03 in June 2013. Participating interests in Block 07/03 are:

PPPV 5% (100% wholly owned subsidiary of PPP)
Premier 30% (Operator)
Vamex 25%
Pearl 25%
PVEP 15%

PPP is very excited at the prospect of participating in these high potential exploration wells and the further appraisal of the Ca Rong Do oil and gas discovery.

The reserves and resource information contained in this section of the Report are based on information compiled by Tom Prudence (Chief Executive Officer). Mr Prudence has a BSc (Hons) in Geological Geophysics and an MSc in Petroleum Geology. He is also a Fellow of the Geological Society of London and a member of the Society of Petroleum Engineers (SPE). Mr Prudence has consented in writing to the inclusion of this information in the format and context in which it appears.


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Related Articles: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 


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