Eni has discovered gas and condensate in the Ken Bau 1X well in the Ken Bau prospect in the underexplored Song Hong Basin off Vietnam, the Italian major said on Wednesday, calling the find "a significant breakthrough".
The result from the exploration well, located in block 114 of the Song Hong Basin "has proven the presence of gas and condensate in the Ken Bau prospect," Eni said in a statement.
"The well result indicates a significant potential for hydrocarbon accumulation," the statement said.
"Ken Bau 1X results represent a significant breakthrough for evaluating the exploration potential in the Song Hong basin."
Eni Vietnam operates Block 114 in which it holds a 50% share. ESSAR E&P holds the remaining 50%. Eni also operates and holds a 100% share in the neighbouring Block 116, according to the statement.
Ken Bau 1X well was plugged and abandoned ahead of the original plan due to technical issues, prior to reaching deeper levels that could hold significant additional resources, the statement noted.
Eni is already planning a drilling campaign early next year to fully assess the substantial upside of the discovery, said the statement.
Eni has had a presence in Vietnam since 2013, and currently operates four blocks all located in the Song Hong basin and the similarly underexplored Phu Khanh basin, offshore central Vietnam.
