Songa Mercur Spuds Ca Ngu-1 Exploration Well in Block 120 off Vietnam

KrisEnergy Ltd. (KrisEnergy or the Company), an independent upstream oil and gas company, announced Monday that the Songa Mercur (mid-water semisub) has commenced drilling at the Ca Ngu-1 exploration well in Block 120 offshore central Vietnam.

The Ca Ngu-1 exploration well is planned to reach approximately 4,921 feet (1,500 meters) total vertical depth subsea and is intended to test the Ca Ngu oil and/or gas prospect. Water depth at the Ca Ngu-1 location is approximately 886 feet (270 meters).

“We originally acquired an interest in Block 120 in 2010 and following 2D and 3D seismic acquisition and interpretation, we are excited to be finally drilling Ca Ngu-1, one of several prospects in the contract area. The single well to have been drilled in the current boundaries of Block 120 was in the early 1990s and encountered oil,” said Chris Gibson-Robinson, KrisEnergy’s Director Exploration & Production.

Block 120 covers an area of 3,310 square miles (8,574 square kilometers) overlying the Quang Ngai Graben and the Tri Ton Horst where water depths range from 164 feet (50 meters) to 3,609 feet (1,100 meters). The graben connects the Song Hong and Qiongdongnan basins in the north to the Phu Khanh Basin in the south. KrisEnergy holds a 25 percent working interest in Block 120 and is partnered by Eni Vietnam B.V. as the operator with 50 percent working interest and Neon Energy (Song Hong) Pty Ltd with 25 percent.


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