Premier Preps for Drill Stem Testing at Vietnam Block

Premier, the operator of the Block 07/03 Production Sharing Contract, has advised that preparations to undertake drill stem testing of hydrocarbon bearing sands in the Oligocene section, which it was not possible to evaluate in CRD-1X, are continuing.

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.

Partners in the block are:

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