By Giulia Petroni

 

Eni SpA said Monday that it has confirmed a significant hydrocarbon accumulation in the Ken Bau discovery in Block 114 in offshore Vietnam.

The Italian oil-and-gas company said preliminary estimates point to a range between 7 trillion and 9 trillion cubic feet of raw gas in place with 400 million to 500 million barrels of associated condensates.

The exploration well will now be plugged and abandoned, according to the company.

"Results confirm the importance of the discovery made in 2019, and Eni Vietnam's and its partner Essar E&P efforts to swiftly appraise the full extent of the accumulation despite the significant operational challenges posed by the Covid-19 pandemic during these months," it said.

Eni Vietnam has a 50% share in the block.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

July 27, 2020 05:50 ET (09:50 GMT)

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