Rosneft Spuds PLDD-1X Well in Vietnam's Nam Con Son Basin with Hakuryu-5

Rosneft Vietnam B.V. commenced drilling at PLDD-1X exploration well in Block 06.1, located offshore Vietnam in the Nam Con Son basin, parent company Rosneft said Wednesday.

This is the first time that Rosneft is operating a drilling project in international waters, confirming its "competence and ability to implement technically complex drilling programs offshore," the company commented in a press release.

The PLDD-1X well, which lies in water depths of around 532 feet (162 meters), has a design depth of about 4,528 feet (1,380 meters).

Rosneft said the expected recoverable reserves of natural gas in the PLDD geological structure are estimated at 444.9 billion cubic feet (12.6 billion cubic meters) and 0.6 metric tons of gas condensate which can be developed by subsea completion and tied-back to the existing Lan Tay platform operated by Rosneft in Block 6.1.

Japan Drilling Co.'s HAKURYU-5 (mid-water semisub) is drilling the PLDD-1X well, with the jackup scheduled to drill another exploration well in Block 05.3/11 in the Nam Con Son basin.

Meanwhile, Rosneft Vietnam BV plans to shoot broadband 3D seismic of its existing Block 6.1 later this year to enhance ongoing production recovery and explore potential in deeper prospects.

"I would especially like to emphasize that this project is an example of advanced cooperation with the Company's partners in the Asia-Pacific: PetroVietnam (Vietnam National Oil and Gas Group) and ONGC (Oil and Natural Gas Corp. Ltd.). We appreciate not only the current progress of joint projects implementation in Vietnam, but also the future prospects for their development," Rosneft Chairman of the Management Board Igor Sechin said.

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