3/9/2015

SAIGON -- KrisEnergy, an independent upstream oil and gas company, has increased its working interest in Block 105 and is taking over operatorship of the production sharing contract.

Earlier, KrisEnergy held 33.33% working interest in Block 105. In January 2015, the Vietnam Ministry of Industry Trade had granted a 12-month extension to the Phase 1 Exploration Period, to Feb. 2, 2016.

Block 105 covers 7,192 sq. km in the Gulf of Tonkin, overlying the central Song Hong basin, where water depths range from 20 m to 80 m. A single exploration well, Cua Lo-1, was drilled in the contract area in 2013, which confirmed the existence of a petroleum system within the block.

Source: Worl Oil