According to a report by Reuters, Singapore firms Keppel Corp. and Ezra Holdings confirmed on Friday that they will establish a joint venture to supply a floating production, storage and offloading (FPSO) vessel to Premier Oil in Vietnam. The deal is valued around US $1 billion.
In Vietnam Block 07/03, Premier Oil (30% equity) is integrating its 2009 drilling results from the eastern part of the block and shooting seismic on the central part of the block during 2010. Further drilling in Block 07/03 is slated for 2011. Seismic will also be shot over Block 104-109/05, in which Premier holds a 50% equity interest.
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