Eni does business in Vietnam. The Italian company has signed an agreement with KrisEnergy and Neon Energy for the acquisition of two exploration blocks offshore of the Asian country, respectively in the Song Hong and Phu Khanh basins, in the Gulf of Tonkin, where it is estimated that "10% of Vietnam's hydrocarbon resources, mainly gas, are present".
The agreement "is subject to approval by the competent Vietnamese authorities and relates to blocks 105-110/04 and 120, of which Eni will be operator with a 50% stake, KrisEnergy and Neon Energy will hold 25% each,” the note reads. The two blocks cover a total of approximately 15.600 square kilometres. The short-term exploration activity “involves the acquisition of 3D seismic e the drilling of two exploratory wells".
This agreement, "combined with Eni's recent gas discoveries in Indonesia and the new permits obtained in Indonesia and Australia, reinforces the company's growth strategy in the Far East and the Pacific, a region characterized by rapidly growing economies". concludes Eni.
By mid-morning, Eni's stock on the Stock Exchange lost about one and a half points.
