Pertamina evaluates Vietnam’s Nam Con Son venture

State-owned oil and gas firm PT Pertamina is reevaluating its participation in Blocks 10 and 11.1 of the Nam Con Son Basin, offshore Vietnam, following poor results of the recent drilling exploration program at the block.

“We are still evaluating whether to continue or to pull out from the joint venture,” Pertamina upstream division senior Amril Adnan told Petromindo.Com Friday.

Blocks 10 and 11.1 are located on the southern continental shelf of Vietnam in the Nam Con Son basin about 210 kilometers southeast of Vung Tau. The blocks cover an area of approximately 7,915 square kilometers with oil and gas potential.

The blocks are operated by the Con Son Joint Operating Company (CSJOC), a joint venture of three national oil companies, Pertamina, Malaysia’s Petronas and PetroVietnam, with equity split 30:30:40, respectively.

Amrin said the joint venture company has fullfilled its commitments including to conduct seismic survey and drilling exploration of two wells in the blocks. (godang)