Vietnam

Mitra Energy Ltd. and Petrovietnam Exploration Production Corp. have signed a production sharing contract with Petrovietnam for Block 46/07 off Vietnam in the northeastern Malay-Tho Chu basin.

July 6, 2010

By OGJ editors
HOUSTON, July 6 -- Mitra Energy Ltd. and Petrovietnam Exploration Production Corp. have signed a production sharing contract with Petrovietnam for Block 46/07 off Vietnam in the northeastern Malay-Tho Chu basin.

The block covers 3,281 sq km adjacent to Mitra-operated Block 51 and in which PVEP also has a direct interest. The two blocks have clear operational synergies, Mitra Energy said.

Interests in Block 46/07 are Mitra 70% and operator and PVEP 30% equity. The initial 3-year PSC work program consists of shooting and processing of 300 sq km of 3D seismic surveys and drilling two exploration wells.