Eni S.p.A., an Italy-based company engaged exploration and production
of oil and gas, has signed an agreement to acquire two exploration
blocks located in offshore Vietnam from Kris Energy, Ltd. and Neon
Energy, Ltd.
Kris Energy is a Vietnam-based independent oil and
gas company, Neon is an Australia-based company engaged in the
exploration and production of oil and gas properties.
The
agreement cover blocks 105-110/04 and 120 located in the Song Hong and
Phu Khanh basins in the Gulf of Tonkin. The Song Hong basin is estimated
to contain 10% of Vietnam's hydrocarbon resources, mainly gas, and
significant discoveries have recently been recorded there. The two
blocks cover approximately 15,600 square kilometers of acreage.
The participating interests in the blocks will be Eni with 50% stake as operator, KrisEnergy with 25% and Neon with 25%.
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