Your account already exists. Please login first to continue managing your settings.
Pan Pacific Petroleum announce that its wholly owned subsidiary, Pan Pacific Petroleum Vietnam (121) (PPPV121) Pty Ltd., has entered into an agreement with Origin Energy to acquire a 15% interest in the Block 121 production-sharing contract offshore Vietnam.
This transaction has received waiver of pre-emptive rights by PetroVietnam, and approval by the Vietnamese government. Completion is subject to the contracting of a rig by Origin to drill the outstanding commitment well.
Upon completion of the transaction, the participating interests will be: PPPV121, 15%; Origin, operator, 45%; and Premier Oil, 40%.