OMV has completed a well in a previously unexplored area offshore of Vietnam and is preparing to test the structure. OMV has not yet released results from the well. The company is running logs and preparing for testing. There has not been any previous exploration in this block. The wildcat well in Block 111 was drilled to a depth of 9,344 feet in approximately 308 feet of water in the Gulf of Tonkin, which is located approximately 106 miles north of Da Nang.
The well was spud on December 20 by Northern Drilling's drill ship Energy Searcher.
OMV owns 50 percent of Block 111 with Edison SpA holding the remaining 50 percent.