Italian Eni revealed as buyer of Vietnam block from KrisEnergy

Hanoi, April 13 - Neftegaz.RU.On April 12, Eni said that, through its affiliate Eni Vietnam, it has completed the acquisition from KrisEnergy of a 100% participating interest and the operatorship in Block 115/09.

Singapore-listed KrisEnergy, after several delays, on March 31 completed the sale of its Block 115/09 offshore Vietnam, to an unnamed international major, never saying who the buyer was.

Italian company said in a statement posted on the website:

• Eni’s presence in the country is further strengthened with this acquisition, consolidating its position in the recently discovered Ken Bau like play, in line with its strategy of expanding of its gas portfolio in the Asian Far East
• Eni has been present in Vietnam since 2013, and currently operates 5 blocks all located in the underexplored Song Hong and Phu Khanh basins, offshore central Vietnam

Block 115/09 covers an area of 7,382 sq km, which has a water depth ranging from 90 m to 1,000 m.
The area is adjacent to Block 114 where Eni Vietnam and its partner Essar Exploration & Production Limited recently announced the Ken Bau gas and condensates discovery, which is currently under appraisal.
The new acreage also borders with Block 116, which is operated by Eni Vietnam with a 100% participating interest.