Ruias-led Essar Exploration & Production Ltd on Friday said the company and its partner ENI have made natural gas and condensate discovery in a block offshore Vietnam.
"Essar Exploration & Production Ltd (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," the company said in a statement.
ENI is the operator of the block with 50 per cent participating interest. EEPL has the remaining 50 per cent stake.
The exploration well Ken Bau 1X has been drilled at a depth of 95 meters below water level, and reached a total depth of 3,606 meters, encountering several intervals of gas and condensate sandstone interbedded with Miocene age shale, with an estimated net reservoir thickness in excess of 100 meters.
"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," the statement quoted ENI as saying.
ENI is already planning to start a drilling campaign early next year to fully assess the substantial upside of the discovery.
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"Ken Bau 1X results represent a significant breakthrough for evaluating the exploration potential in the Song Hong Basin," it said.
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.
Besides venture in Vietnam, it has investments in an exclusive block OPL 226 in Nigeria and holds unconventional hydrocarbon acreages in India through wholly-owned subsidiary Essar Oil and Gas Exploration and Production Ltd (EOGEPL).
EOGEPL's Raniganj coal-bed methane (CBM) block in West Bengal produces 1 million cubic metres per day of gas.
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