Eni signs PSC with PetroVietnam

Submitted by Paddy Harris on Thu, 2014-06-26 14:34

26th June 2014

Eni’s CEO, Claudio Descalzi, has signed a production sharing contract (PSC) for the exploration of Vietnam’s offshore Block 122with PetroVietnam president and CEO, Do Van Hau

Block 122 covers an area of 6,900 square kilometres in the Phu Khanh Basin, in waters depth up to 2,000 metres. The exploration period will last seven years, subdivided into two phases.

This new agreement confirms Eni’s interest to continue and consolidate its presence in Vietnam, where the company returned in 2012 and operates already three offshore exploration blocks.