The Hoa Mai-1X exploration well successfully tested the Hoa Mai prospect in Vietnam Block 46-Cai Nuoc. Block 46-Cai Nuoc is located adjacent to the Talisman operated PM-3 CAA Malaysia/Vietnam block, and Hoa Mai is situated some 9 kilometers northwest of the PM-3 CAA Bunga Kekwa C wellhead platform. The well discovered a 16-meter gas column in high quality Miocene aged channel sandstones.
The well was tested and flowed at a rate of 34 mmcf/d of natural gas at a 76/64-inch choke with 1,300 psi tubing head pressure and was constrained by surface testing equipment. Hoa Mai is estimated to contain 70-100 bcf of recoverable gas reserves. Development planning will focus on a tie-back to the recently installed PM-3 CAA facilities.
"This is an excellent result from Talisman's first exploration well in Vietnam. Year-to-date we have drilled five out of five successful exploration and appraisal wells on our Malaysia/Vietnam holdings. This success further reinforces our belief in the upside potential of the area and demonstrates that our strategy for the area is working," said Dr Jim Buckee, President and Chief Executive Officer.
Talisman Vietnam Limited is operator and holds a 33.15% interest in Block 46-Cai Nuoc. PetroVietnam Investment & Development Company holds a 30% interest and Petronas Carigali (Vietnam) Sdn. Bhd. holds a 36.85% interest. PetroVietnam Investment & Development Company is a subsidiary of PetroVietnam, the national oil company of Vietnam, while Petronas Carigali is the exploration and production subsidiary of Malaysia's state owned Petronas.
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