Mitra, KUFPEC and PVEP Awarded PSC For Block 51, Vietnam
Source: www.gulfoilandgas.com 5/12/2010, Location: Asia
Mitra, together with Kuwait Foreign Petroleum Exploration Company (KUFPEC) and Petrovietnam Exploration Production Corp. (PVEP), have entered into a Production Sharing Contract (PSC) with Petrovietnam for Block 51, offshore Vietnam.
Mitra, holding 35% equity, will operate the PSC on behalf of the partnership. KUFPEC and PVEP hold 35% and 30% equity respectively. The partnership is committed to carry out 300 square kilometres of 3D seismic data acquisition and drill one exploration well during the first three year Exploration phase.
