Project Profile
Location: Song Hong Basin, Vietnam
Reserves: 1 trillion cubic feet of gas
Area: 5,900 sq km
Block 114 is sited in the shallow waters of the Song Hong Basin, and it is estimated to have of one trillion cubic feet of gas resources. The block spans an area of 2,278 square miles (5,900 square kilometres). Essar Energy has agreed to sell 50% of its stake in an offshore gas exploration block in Vietnam to Eni. Under the agreement, Eni assumes its status as the operator for the block. Eni will also acquire a 3D seismic survey and it will drill two wells on the block. Further investment is required to establish gas reserves on the block. Essar Energy attained full ownership of the block in 2007, and the company entered a production sharing contract (PSC) with PetroVietnam in 2010. The agreement between Essar and Eni is subjected to formal approval by the Vietnamese Government.
Operators:
Eni: Operator with 50% interest
Essar Energy: 50% interest