Italy's Eni acquires exploration block near recent gas discovery offshore future LNG importer Vietnam
Italian energy company Eni has strengthened its presence in future LNG importer Vietnam through the acquisition of Block 115, located in the Song Hong basin and the nearby Ken Bau natural gas and condensate discovery.
Eni acquired a 100 percent interest in the Block from Krisenergy, an independent upstream company focused on the production and development of oil and gas in the basins of Southeast Asia.
“The acquired Block is adjacent to Block 114 where the operator Eni Vietnam and its partner Essar Exploration and Production Limited have recently announced the Ken Bau gas and condensate discovery currently under appraisal,” explained Eni.
Milan-based Eni said the new acreage also borders Block 116, operated by Eni Vietnam with a 100 percent participating interest.
The Block covers an area of 7,382 square kilometres with a water depth ranging from 90 metres to 1,000 metres.
“Eni's presence in the country is further strengthened with this acquisition, consolidating its position in the recently discovered Ken Bau play, in line with the strategy of expanding its gas portfolio in the Far East,” said Eni.
Eni has been present in Vietnam since 2013, and currently operates five blocks all located in the under-explored Song Hong and Phu Khanh basins.
Vietnam is currently developing about half-a-dozen LNG and power projects with overseas partners to try and keep pace with future energy needs to enable its economic expansion.
The leading LNG import projects include the Quang Ninh LNG-for-power venture owned by a partnership comprising PetroVietnam, Tokyo Gas and Marubeni Corp.
Vietnam is also developing another terminal involving US major ExxonMobil Corp. at the port city of Haiphong.
Another Vietnamese LNG-for-power venture is being developed by Singapore-based company Delta Offshore Energy and partners in Bac Lieu province in the Mekong Delta of south Vietnam.
Other ventures are planned for Ninh Thuan province, south of Cam Ranh Bay, and at Long An, also on the Mekong Delta.
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Japan's Tokyo Gas and Marubeni join with PetroVietnam for LNG and power project in Quang Ninh
Tokyo Gas, the Japanese utility and LNG importer, has joined with one of Japan’s main trading houses, Marubeni Corp., to develop a liquefied natural gas and power project in the northeast Vietnamese province of Quang Ninh.
