Southeast Asia-focused upstream player KrisEnergy has finally completed the farm-out of its entire interest in Block 115/09 offshore Vietnam.
The Singapore-based company entered into the farm-out agreement with an unnamed international oil major for the Vietnam farm-out back in February 2020 for a “nominal cash consideration.”
The deal had been repeatedly delayed, until last week. KrisEnergy said “the Vietnamese authorities have approved the transfer of 100% working interest and operatorship of Block 115/09 and the transfer was completed on 31 March 2021.”
Block 115/09 covers 7,382 sq km in the southern Song Hong Basin, offshore central Vietnam.
The Southeast Asian-focused upstream player holds working interests in three producing fields, one offshore Cambodia, one in the Gulf of Thailand and one onshore Bangladesh. It also participates in five blocks in various stages of the exploration and production lifecycle in Indonesia and Thailand. KrisEnergy operates six of the contract areas.