Eni finds significant gas, condensate potential in offshore Vietnam exploration block

MILAN - Eni announces that its exploration well, located in block 114, Song Hong Basin, offshore Vietnam, has proven the presence of gas and condensate in the Ken Bau prospect. The well result indicates a significant potential of the hydrocarbon accumulation. Eni Vietnam is the Operator of Block 114 with a 50% share; ESSAR E&P holds the remaining 50%.

The exploration well Ken Bau 1X has been drilled at a depth of 95m below water level, and reaches a total depth of 3606m, encountering several intervals of gas and condensate sandstone interbedded with Miocene age shale, with an estimated net reservoir thickness in excess of 100m.

Ken Bau 1X well was plugged and abandoned ahead of the original plan due to technical issues, prior to reaching deeper levels that could hold significant additional resources. Eni is already planning a drilling campaign early next year to fully assess the substantial upside of the discovery.

Ken Bau 1X results represent a significant breakthrough for evaluating the exploration potential in the Song Hong basin, where Eni Vietnam also operates with a 100% share in the neighboring Block 116.

Eni has been in Vietnam since 2013, and currently operates four blocks all located in the underexplored Song Hong and Phu Khanh basins, offshore central Vietnam.