Vietnam

Block 07/03

Location
offshore Nam Con Son Basin

PPP equity
5% being progressed through wholly owned subsidiary Pan Pacific Petroleum (Vietnam) Pty Ltd

Subject to PetroVietnam and Vietnamese Government approval

Operator
Premier 30%

Other partners
Vietnam American Exploration Company, LLC 40% (a wholly-owned subsidiary of Pitkin Petroleum Plc), PearlOil (Ophiolite) Ltd 15% (a wholly owned subsidiary of Mubadala), and PetroVietnam Exploration and Production Corporation 10% (subject to relevant Vietnamese approvals).

Awarded
1999

Area
4915 km²

Pan Pacific Petroleum (Vietnam) Pty Ltd is progressing a 5% interest in Block 07/03 via a farmin agreement with operator Premier Oil Vietnam South B.V. (“Premier”), subject to PetroVietnam and Vietnamese Government approval. Block 07/03 covers 4,915 km² in the prospective Nam Con Son Basin, and is located offshore, adjacent to block 12W which contains the Chim Sao and Dua Oil Fields (59 MMbbls oil and 16 MMboe gas), also operated by Premier. Chim Sao development is progressing. Gas (2 Tcf) has been discovered by BP in the Lan Tay and Lan Do Fields in Block 06-1 to the north. These gas fields have been developed as part of the Nam Con Son Gas Project, an integrated gas-to-power project that delivers natural gas supplies from the offshore fields via a 370 km subsea pipeline.