By the OGJ Online Staff
HOUSTON, Jan. 9 -- The state oil companies of Malaysia, Viet Nam, and Indonesia will form a joint venture to explore Blocks 10 and 11.1 off Viet Nam.
This is the first such alliance within the Tripartite Cooperation Arrangement signed in November 2000 (OGJ Online, Dec. 11, 2000).
Con Son Joint Operating Co. is made up of Petrovietnam Investment & Development Co. with 40%, Petronas Carigali Overseas Sdn. Bhd. 30%, and Pertamina 30%.
The blocks are on the southern continental shelf of Viet Nam in the Nam Con Son basin, 210 km southeast of Vung Tau. They cover 7,915 sq km.
This year, the partners will reprocess existing 2D and 3D seismic data and conduct further geological and geophysical studies. Next year, they will drill the first two exploration wells.
Petronas said the arrangement fosters a partnership of three national oil companies of the Association of South East Asian Nations. The Tripartite Cooperation Arrangement will pave the way for more cooperation in the upstream sector, it said, adding evaluation of Malaysian and Indonesian blocks is underway for similar arrangements.
