OMV TO EXPLORE BLOCK OFF VIET NAM

OMV (Viet Nam) Exploration GmbH plans to start seismic surveys of a block in the Gulf of Tonkin off Viet Nam. Held under a production sharing contract with state owned Petrovietnam, Block 104 covers 8,800 sq km. It lies in an area where water depths range from 25 to 65 m off the coastal city of Vinh. Among other things, the contract requires OMV to acquire 5,000 line km of seismic data during a 3 year exploration period. In case of a commercial discovery, Petrovietnam can take a 1517, interest

Sept. 6, 1993

2 min read

OMV (Viet Nam) Exploration GmbH plans to start seismic surveys of a block in the Gulf of Tonkin off Viet Nam.

Held under a production sharing contract with state owned Petrovietnam, Block 104 covers 8,800 sq km. It lies in an area where water depths range from 25 to 65 m off the coastal city of Vinh.

Among other things, the contract requires OMV to acquire 5,000 line km of seismic data during a 3 year exploration period.

In case of a commercial discovery, Petrovietnam can take a 1517, interest in the block, wholly owned and operated by OMV, a unit of OMV Aktiengesellschaft, Vienna.

Drilling rights in parts of the Gulf of Tonkin and South China Sea are under dispute by China and Viet Nam. London's Financial Times reported that the first high level talks between the two countries over territorial rights began Aug. 24 in Beijing.

Meanwhile, BP Exploration Operating Co. Ltd. has denied reports in the general press of a 2-3 bcf -as discovery on its Block 06 in the Con Son basin off Viet Nam.

London's Independent newspaper claimed news of a big BP gas strike had been trickling out of the region for months, but this was the first time an estimate of reserves had been provided from within the group.

A BP official said there was no truth in the rumors.

The company is drilling observation well Lan Tay Obs using the Actinia drillship, after a blowcut during drilling in March.

BP also is drilling the Huong Dong Bac wildcat on Block 06, using the Deepsea Duchess drillship. It was spudded June 1.