Singapore-listed independent KrisEnergy won operatorship Tuesday of Eni’s offshore Vietnam Block 105-110/4 (Block 105).
KrisEnergy will take over Eni’s 66.67 percent working interest in the block as well as operatorship.
Prior to the deal KrisEnergy held a 33.33 percent working interest in Block 105 and will now hold a 100 percent stake.
The deal is effective as of December 31, 2014.
Block 105 covers 2,777 square miles in the Gulf of Tonkin, overlying the central Song Hong Basin where water depths range from 66 feet to 262 feet.
A single exploration well, Cua Lo-1, was drilled in the contract area in 2013 and confirmed a petroleum system in the block.
KrisEnergy said it is currently in talks with other parties interested in taking stakes in the block.
“Following a 12-month extension of the exploration period at the beginning of 2015, we are still keen to investigate the prospectivity of several play types in Block 105 particularly the faulted Tertiary plays on the western margin of the contract area,” KrisEnergy’s director Exploration & Production Chris Gibson-Robinson said.