Japan’s ENEOS Xplora, PVEP Ink Deal for Vietnam Offshore Block

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Japan's ENEOS Xplora has signed a new production-sharing contract for the Block 15-2 offshore southern Vietnam, the production and exploration arm of state oil firm PetroVietnam said on Tuesday.

The 25-year contract was signed in Hanoi on Monday between ENEOS Xplora's Vietnam unit, Japan Vietnam Petroleum Company Limited (JVPC), and PetroVietnam's PVEP unit, the company said in a statement.

JVPC holds a 45% stake in the block, which covers 415.9 square kilometres and houses the Rang Dong and Phuong Dong oil fields, PVEP said.

(Reuters - Reporting by Khanh Vu)