KrisEnergy Ltd. said March 9 that it is increasing its working interest in Block 105-110/4 offshore Vietnam. It is also taking over operatorship of the production-sharing contract between Eni Vietnam BV and KrisEnergy (Song Hong 105) Ltd.

This follows the March 9 execution of a deed of assignment. The deed’s effective date is Dec. 31, 2014.

Eni Vietnam’s 66.67% working interest in and operatorship of Block 105 will transfer to KrisEnergy 105, subject to the approval of the Ministry of Industry and Trade of Vietnam.

Prior to the deed, KrisEnergy 105 held 33.33% working interest in Block 105.

Block 105 covers 7,192 sq km in the Gulf of Tonkin, overlying the central Song Hong Basin where water depths range from 20 meters to 80 meters. A single exploration well, Cua Lo-1, was drilled in the contract area in 2013, which confirmed the existence of a petroleum system within the block.

Offshore