Premier Oil provides Vietnam block 07/03 drilling update

Premier Oil Vietnam South B.V. (Premier), the operator of the Block 07/03 Production Sharing Contract, has advised that the CRD‐2X appraisal well has been drilled to a TD of 3785m MDRT, and has completed logging operations.

The rig is now preparing to undertake a drill stem test of the hydrocarbon bearing sands in the Oligocene section which it was not possible to evaluate in CRD‐1X.

CRD‐2X has been planned to evaluate the oil and gas discovered in multiple stacked reservoir layers by CRD‐1X with the aim of reducing uncertainty in whether the CRD structure contains sufficient volumes to support a potential development. The implications of the CRD‐2X results will be advised when the well evaluation has been completed.

Partners in the block are: Pan Pacific Petroleum (Vietnam) Pty Ltd 5 percent (a wholly owned subsidiary of Pan Pacific Petroleum NL) Premier Oil Vietnam South B.V. (Operator) 30 percent Vietnam American Exploration Company, LLC. 40 percent (a wholly owned subsidiary of Pitkin Petroleum Plc) PearlOil (Ophiolite) Ltd 15 percent PetroVietnam Exploration and Production Corporation Ltd 10 percent.

Tags: Premier Oil

Posted by VBN on Mar 22 2011. Filed under Oil-Gas & Petroleum. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry