JX Nippon Oil & Gas Exploration Corporation announced today that its affiliate, Nippon Oil Exploration Ltd. has made a gas-condensate discovery in Block 16-2 offshore Vietnam.
NOEX Cuu Long, and its joint venture partners in Block 16-2, Petrovietnam Exploration Production Corporation Ltd and Joint Venture Vietsovpetro have been carrying out exploration activities in the Block. The gas-condensate discovery was made with the second exploration well drilled in the Block “HMX-1X”. The joint venture plans to implement further exploration and appraisal programs to evaluate the commerciality of development of Block 16-2.
Vietnam is one of NOEX’s strategic core areas and, in addition to its operations in Block 16-2, NOEX holds interests in Block 5-1b/c offshore Vietnam, which is currently in the exploration phase, and through its affiliate, Japan Vietnam Petroleum Company Limited, in Block 15-2 which is in the production phase (Rang Dong and Phuong Dong oil fields), JVPC acts as operator in Block 15-2.
NOEX is committed to expanding its E&P activities in Vietnam in addition to focusing on other strategic core areas.
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Source: JX Nippon Oil & Gas, January 5, 2010;