Vietgazprom says gas has been encountered with the first well drilled in Bao Wang as part of the exploration activities in block 112 offshore Vietnam in the Gulf of Bac Bo. According to the survey data, the gas was rated at up to 400 thousand cubic meters per day with gas condensate found in the well stream. Further testing and appraisal will be needed before the field can be declared a commercial discovery.
Vietgazprom is the Joint Operating Company of Gazprom and Vietnam Oil and Gas Corporation Petrovietnam.
On September 11, 2000 Gazprom and Petrovietnam entered into the Petroleum Contract for Block 112 offshore Vietnam. The contract covers exploration, production and marketing of any hydrocarbons.
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