Vietnam

Nam Con Son Basin

Santos announced its first entry into Vietnam in April 2006 with an agreement to farm in to Block 12 in the Nam Con Son Basin operated by Premier Oil.

Following a successful exploration and appraisal programme the Block 12 acreage has been reduced to two Development Areas:

Chim Sáo – first oil production in October 2011.
Dua – oil and gas discovery being considered as a follow-on development to Chim Sáo.
Santos continues to explore elsewhere in Vietnam in the Beibuan Trough and the Phu Khanh Basin.

Phu Khanh Basin

Santos has an operated interest and 50% equity in one exploration permit in the Phu Khanh Basin, offshore Vietnam. Other partners are SK Energy (20%) and PVEP (30%).  Seismic was acquired in 2009 and interpretation has indicated a number of prospects.  The first well is planned in early 2011 on the Tuy Hoa prospect.

The Phu Khanh Basin is relatively unexplored with the first well in the Basin drilled in 2009 by Plains Petroleum in Block 124 (immediately south of Santos’ Block 123) finding a sub-commercial oil accumulation. This well has proven a petroleum system in the area that is modelled to extend into Block 123 where a number of attractive structures have been identified.