The UK-based operator of a planned basin-opening exploration prospect in Vietnam’s offshore Phu Khanh basin is on the hunt for an appropriate deep-water drilling rig.

Pharos Energy (formerly Soco International) has been maturing Block 125 for several years, and is convinced the tract contains a variety of world-class prospects, in shallow and deep water.

Interpretation of 3D seismic data has highlighted greater prospectivity in the deep-water section, and the company had planned to drill an exploration well this year.