Pan Pacific Petroleum (PPP) and its joint venture (JV) partners have withdrawn from a block in Vietnam after unsuccessful drilling of the Whale prospect.
The company said the decision was also influenced by the inability to secure a farm-in partner to share the costs and risk of drilling an additional well in the licence.
PPP said its exploration expenditure in the licence had been written off in its 2014 annual report.
The participating interests in the licence were PPP with a 15% share, Origin with a 45% share and acting as operator and Premier Oil, with a 40% share.