Samedan Hits Offshore Vietnam

Samedan Vietnam Ltd. successfully tested a discovery well in the Swan prospect, which is located in Block 12W offshore Vietnam.

The well, 12W-TN-1X, is located approximately 230 miles southeast of Ho Chi Minh City in the Nam Con Son Basin and is in 260 feet of water. It was drilled to a total depth of 14,626 feet and tested natural gas at a stabilized flow rate of 20 million cubic feet of gas per day with 150 barrels of condensate from a perforated interval of 131 feet during a drill stem test at 12,884 feet in the Upper Oligocene Cau formation. The well was drilled by Atwood Oceanic’s jackup, Vicksburg.

It is anticipated that further evaluation, including the possibility of a 3D seismic survey and a confirmation well, will be needed to determine the commercial significance of the discovery, according to John Tomich, Samedan's general manager in Vietnam.

Noble Affiliates entered into a Production Sharing Contract on Nov. 22, 2000 with Vietnam Oil and Gas Corporation (PetroVietnam). The contract covers approximately a 567,000-acre block of which Noble Affiliates has a 60 percent working interest and serves as operator, with the balance held by Delek Energy Vietnam and OPECO Natural Gas Ltd. The Production Sharing Contract allows PetroVietnam the right to participate with a 15 percent working interest in any commercial developments.

Noble Affiliates and its two partners also own an interest in the adjacent Block 12E. Together, the two blocks encompass 1.7 million acres.

"Immediately following the Swan well, we are slated to spud a second well in the Lark Prospect located in the adjacent Block 12E," Tomich stated.