Salamander Energy has agreed to farm out a 20% interest in block 101-100/04 off northern Vietnam to JX Nippon Oil & Gas Exploration Corp (JX-NOEX).
Offshore staff
LONDON – Salamander Energy has agreed to farm out a 20% interest in block 101-100/04 off northern Vietnam to JX Nippon Oil & Gas Exploration Corp (JX-NOEX).
The block contains the Cat Ba oil prospect, and is due to be tested by the CB-1X well in July, using the jackup Aquamarine Driller.
JX-NOEX will earn its interest by funding a promoted cost of the well.
Salamander says Cat Ba has oil potential in both basement and in the overlying clastics, with a mean prospective resource of around 100 MMbbl. It appears to be analogous to the neighboring Ham Rong oil field, which Petronas declared commercial in 2010.
