The three companies are Idemitsu Oil and Gas Company Limited, JX Nippon Oil and Gas Exploration Corporation and Teikoku Oil (Con Son) Company Limited.— Illustrative image/ VNA/VNS Photo Huy Hung

HA NOI (Biz Hub) — Three companies on August 20 announced the discovery of gas and condensate in the fourth well in Blocks 05-1b and 05-1c off the southern Viet Nam coast.

The three companies are Idemitsu Oil and Gas Company Limited, JX Nippon Oil and Gas Exploration Corporation and Teikoku Oil (Con Son) Company Limited.

Blocks 05-1b and 05-1c are located 300 kilometres southeast of HCM City. The well was spudded in February 2014. The drill stem tests (DST) were carried out in May and August, and the accumulations of gas and condensate were discovered.

The discovery of gas and condensate in this exploration well follows the discovery of oil and gas accumulations in other wells drilled in Blocks 05-1b and 05-1c. A detailed reservoir evaluation will be carried out in conjunction with further evaluation of other potential prospects in these blocks.

In October 2004, the partner companies jointly entered into a Production Sharing Contract with the Vietnam Oil and Gas Group (PetroVietnam) for Blocks 05-1b and 05-1c, off the southern Viet Nam coast, and were awarded an investment licence by the Vietnamese Government. — VNS