Premier Completes Logging Ops at Vietnam Well

Premier, the operator of the Block 07/03 Production Sharing Contract, has advised that the CRD-2X appraisal well has been drilled to a TD of 3785m MDRT, and has completed logging operations. The rig is now preparing to undertake a drill stem test of the hydrocarbon bearing sands in the Oligocene section which it was not possible to evaluate in CRD-1X.

CRD-2X has been planned to evaluate the oil and gas discovered in multiple stacked reservoir layers by CRD-1X with the aim of reducing uncertainty in whether the CRD structure contains sufficient volumes to support a potential development. The implications of the CRD-2X results will be advised when the well evaluation has been completed.

Partners in the block are:

  • Pan Pacific Petroleum (Vietnam) Pty Ltd 5% (a wholly owned subsidiary of Pan Pacific Petroleum NL)
  • Premier Oil Vietnam South B.V. (Operator) 30%
  • Vietnam American Exploration Company, LLC. 40% (a wholly owned subsidiary of Pitkin Petroleum Plc)
  • PearlOil (Ophiolite) Ltd. 15%
  • PetroVietnam Exploration and Production Corporation Ltd 10%