Essar Exploration & Production Ltd and ENI find gas and condensate in exploration Block 114, Song Hong Basin, offshore Vietnam - Essar | Creating Value

Essar Exploration & Production Ltd and ENI find gas and condensate in exploration Block 114, Song Hong Basin, offshore Vietnam

Jul 26th, 2019

Port Louis, Mauritius: Essar Exploration & Production Limited (EEPL) and ENI have jointly announced that their exploration well located at Block 114, Song Hong Basin, Offshore Vietnam, has established the presence of gas and condensates in the Ken Bau prospect. ENI is the operator of the block with 50% participating interest.

ENI, in its press release dated 24 July 2019, has confirmed that:

Quote

  • Its exploration well located at Block 114, Song Hong Basin, offshore Vietnam, has proven the presence of gas and condensate in the Ken Bau prospect. The well result indicates a significant potential of the hydrocarbon accumulation. Eni Vietnam is the Operator of Block 114 with a 50% share; EEPL holds the remaining 50%.
  • The exploration well Ken Bau 1X has been drilled at a depth of 95 m below water level, and reaches a total depth of 3,606 m, encountering several intervals of gas and condensate sandstone interbedded with Miocene age shale, with an estimated net reservoir thickness in excess of 100 m.
  • Ken Bau 1X well was plugged and abandoned ahead of the original plan due to certain technical issues, prior to reaching deeper levels that could hold significant additional resources. ENI is already planning to start a drilling campaign early next year to fully assess the substantial upside of the discovery.
  • Ken Bau 1X results represent a significant breakthrough for evaluating the exploration potential in the Song Hong Basin.

Unquote

EEPL is a global oil & gas exploration & production company based in Mauritius. It has invested over USD 1.1 billion in the exploration & production business to date. EEPL currently has investments in three upstream oil and gas ventures:

  • Joint venture with Eni in Vietnam
  • Investments in an exclusive block OPL 226 in Nigeria
  • Unconventional Hydrocarbon acreages in India through wholly owned subsidiary Essar Oil and Gas Exploration and Production Limited ( EOGEPL)

EOGEPL is the largest unconventional E&P companies in India with a significant resource base in strategically located sedimentary basins across the country. It is a pioneer in Unconventional Hydrocarbons in India. The Raniganj CBM asset in West Bengal is internationally considered as a showcase for CBM learning and development, and is the first CBM asset in India to cross the threshold of 1 million cubic metres per day of gas production.

Media Contact:

Essar
        Manish Kedia, Senior Vice President – Corporate Affairs, Essar
        Phone: +91 98197 30092, Email:  manish.kedia@essar.com

Adfactors PR
        Hiral Vora
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