Idemitsu group finds gas-condensate off Vietnam

A group led by Idemitsu Oil & Gas Co. Ltd., Tokyo, has made a gas-condensate discovery at the third well drilled on blocks 05-1b and 05-1c offshore 300 km southeast of Ho Chi Minh City, Vietnam.

Geological information wasn’t provided, but the company said it drilled the well between August 2012 and January 2013 and drillstem tested it from February to April. The company will conduct a detailed reserves review and evaluate other potential prospects on the blocks.

Idemitsu signed a production sharing contract with Petrovietnam on Oct. 28, 2004. It shot 2D and 3D seismic in 2005 and began drilling in 2007 (OGJ Online, Jan. 10, 2007).

Operator Idemitsu holds a 35% stake in the venture, JX Nippon Oil & Gas Exploration Corp. has 35%, and Teikoku Oil (Con Son) Co. Ltd. has 30%.