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

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