PetroVietnam, Malaysia's Mittra to Find, Produce Oil in Two Offshore Blocks
The government of Vietnam said Friday that it has allowed PetroVietnam to sign a contract with Mitra Energy Limited (MEL) of Malaysia to explore and produce oil and natural gas in Blocks 28/03 and 29/03, offshore southern Vietnam.
Prime Minister Nguyen Tan Dung approved the investment plan for the blocks, which are located in Nam Con Son Basin, about 250 kilometers from Ba Ria-Vung Tau province, the government said on its web site September 21.
The two companies will sign a production-sharing contract, it said, giving no details about stake holding ratio by each side, neither a signing date.
The deal with become the fifth contract by PetroVietnam so far this year if inked.
The government did not specify reserves, possible investment capital, and timetable for the start and exploration of the project.
Mitra Energy Limited is a privately owned junior international oil and gas exploration company focusing on the ASEAN geographical region but with particular initial emphasis on Indonesia, the Philippines and Thailand.
This will be MEL’s first contract in Vietnam. (Government Website)
Vietnamese
