The joint operating company Vietgazprom has begun drilling an exploratory well in block 112 of the Bao Vang deposit, situated in the central part of the continental shelf of the Socialist Republic of Vietnam.
The drilling of the well to a projected depth of 1,500 to 1,600 metres will be carried out by the drilling ship Energy Searcher, belonging to the company Jet Holding Ltd. It is expected that the drilling work, geophysical studies and testing work on the prospective objects in the well will last for 3 months.
The "Oil and Gas Contract for block 112 of the continental shelf of the Socialist Republic of Vietnam" was signed on 11 September 2000 between VNG, Petrovietnam, Gazprom, the subsidiary company PVEP and Zarubezhneftegaz (now Gazprom zarubezhneftegaz).
In the third quarter of 2007, an exploratory well was drilled in the Bao Vang deposit. As a result of the tests carried out, the Bao Vang gas condensate deposit was opened. Under testing, inflows of gas amounted to around 400,000 cubic metres per day.
In October 2008, executives from Gazprom and Petrovietnam signed an oil and gas contract for the new blocks 129, 130, 131 and 132, located in the southern part of the continental shelf of the Soviet Republic of Vietnam. Vietgazprom is now carrying out 2D offshore seismic data investigation here, as well as offshore geochemical studies.