Eni and PetroVietnam Sign PSC for Block 122

Eni and PetroVietnam Sign PSC For Offshore Exploration

Eni’s Ceo, Claudio Descalzi, signed in Hanoi with PetroVietnam President and Ceo, Do Van Hau, a Production Sharing Contract (PSC) for the exploration of the offshore Block 122.

Block 122 covers an area of 6,900 sqkm in the Phu Khanh Basin, in waters depth up to 2,000 meters. The exploration period will last 7 years, subdivided in 2 phases.

This new agreement confirms Eni’s interest to continue and consolidate its presence in Vietnam, where the company returned in 2012 and operates already three offshore exploration blocks.

Press Release, June 26, 2014; Image: PetroVietnam

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