Premier's Vietnamese well disappoints

Abandoned: Premier Oil's appraisal well on the Chim Sao North West satellite discovery offshore Vietnam yielded disappointing results

EPA/Scanpix

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Danica Newnham

 17 August 2012 04:09 GMT

Premier Oil has completed an unsuccessful appraisal well on the Chim Sao North West satellite discovery offshore Vietnam.

The Chim Sao NW-1 appraisal well had pre-drill potential of up to 30 million barrels of oil and was considered by Premier to be a low-risk target.

Co-venturer Santos said the well had been plugged and abandoned.

The Chim Sao North West field was discovered in August 2011 and, if developed, would be a tie-in to the FPSO at Premier’s producing Chim Sao oilfield.

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