Oil & Gas Country Review

Vietnam

Energy Review Vietnam

Vietnam Gas ProductionBillion cubic meters

Source: BP Statistical Review

08

7.5

09

8.0

10

9.4

11

8.5

12

9.4

13

9.8

14

10.2

Vietnam Oil ProductionThousand barrels per day

08

311

09

342

10

312

11

317

12

348

13

350

14

365

Vietnam has a population of 90million, 60% of whom are under35; it has a working agepopulation of 56 million. Over thelast decade GDP growth averaged8% and is forecast to average6% per year for 2014-2017.Vietnam’s import demand isexpected to grow by around250% between 2010 and 2020– faster than any other emergingpower, including China. This rapideconomic growth, industrialisationand export market expansion isdriving domestic energy use.

Vietnam’s oil and gas reservesare offshore, mainly in the SouthChina Sea (known in Vietnam asthe East Seat), and in the Gulfof Thailand. Reserves at depthsof less than 100 metres arediminishing, particularly at themajor Bach Ho field in the CuuLong Basin. Vietnam is lookingto the greater challenges of thelarge and largely unexploiteddeepwater fields in the Nam ConSon, Tu Chinh-Vung May, PhuKhanh and Song Hong Basins.Exploration has also started offthe island of Phu Quoc in the Gulfof Thailand. The Malay-Tho ChuBasin is also in the Gulf ofThailand.

Vietnam’s production is offshorefrom a series of basins along thesouthern coastline underlying theSouth China Sea.

First oil production was in 1986and output has risen, especiallyfrom the Cuu Long basin. A largeincrease in output occurred in2004. Production will to rise to aplateau in 2013/2014 after whichslow decline from the largest field,Bach Ho, will only just be offsetby new developments, perhapseventually in deep waters.

Gas production began to increasesubstantially in 2003 when fieldsin the Nam Con Son basin cameonstream. Continued strong andstready growth in output isforecast to satisfy the growingdomestic gas market.

Vietnam is ranked fourth in SouthEast Asia for oil and gasproduction and oil reserves, afterIndonesia, Malaysia and Brunei.

About 100 hydrocarbon-bearingprospects have been found inabout 50 fields of which 30 fieldsare commercial. Estimated oilreserves are about 643 milliontons of crude oil and 644 cubicmetres of gas.

Oil production is about 15.2million tons of crude oil and 8.7billion cubic metres of gas.

Country Key Facts

Official name: Socialist Republic of VietnamCapital: HanoiPopulation: 94.05 million (2016)Area: 331,114 square kilometers

(127,844 square miles)Form of government: Communist stateLanguage: Vietnamese, English, French,

Chinese, Khmer, local languagesReligions: Buddhist, Hoa Hao, Cao Dai,

Christian, MuslimCurrency: Vietnam DongCalling code: +84

Operational Key Facts

2014 year end oil reserves: 4.4 billion barrels2014 oil production: 365,000 bbls per day2014 year end gas reserves: 21.6 Tcf2014 gas production: 10.2 Bcf

Energy Review Vietnam

Source: BP Statistical Review

92 02 11 12

Year end proved gas reservesTrillion cubic metres

0.1

0.2

0.6

0.6

13

0.6

14

0.6

92 02 11 12

Year end proved oilreservesBillion barrels

0.3

2.8

4.4

4.4

13

4.4

14

4.4 Source: BP Statistical Review

Oil production is expected toremain steady over the next 5years, although it is likely todiminish after that. There are twomajor variables. If deepwaterfields can be successfullydeveloped, production wouldexpand. On the other hand,political issues involving China inthe South China Sea could delayexploration. Recently China calledfor exploration bids for nine oiland gas blocks which are inVietnam’s exclusive economiczone. This was done shortly afterVietnam passed its Law on theSea. To date there have been nosigns of major concern amongfore ign investors in theVietnamese oil and gas industryover China’s act ions andstatements.

Coal Bed MethaneCBM in Vietnam remains a veryearly stage industry. Nonetheless,there is a high potential for CBMto supply the domestic gasmarket, particularly in northernV ie tnam where ex i s t i ngconventional gas sources arenearing depletion and demand isincreasing from local industrialcustomers. CBM is well placed toservice this growing market withthe Red River Delta in northernVietnam containing a substantialcoal resource. There is a proposalfor the construction of a newpipeline system to connectoffshore gas resources to the RedRiver Delta.

Energy Review

• Over the past few decadesVietnam has emerged a s a nimportant oil and natural gasproducer in Southeast Asia.Vietnam has boosted explorationactivities, allowed for greater

foreign company investment andcooperation in the oil and gassectors, and introduced marketreforms to support the energyindustry. These measures havehelped to increase oil and gasproduction. Also, the country'srap id economic g rowth ,industrialization, and exportmarket expansion have spurreddomestic energy consumption.

• Successful exploration hasrecently led to a substantialincrease in proved crude oilreserves, which grew to 4.4 billionbarrels as of January 2013 from0.6 billion barrels two years prior.Vietnam's efforts to intensifyexploration and development ofits offshore fields have contributedto the growth in reserves.Ongoing exploration activitiescould increase this figure in thefuture, as Vietnam's watersremain relatively underexplored.Vietnam is currently the third-largest holder of crude oil reservesin Asia, behind China and India.

• Vietnam produced around365,000 barrels per day (bbl/d)of oil in 2014, down from its peakof 403,000 bbl/d in 2004. TheCuu Long Basin has been theprimary area for oil production.

• Vietnam is a net exporter ofcrude oil, but is a net importerof oi l products. With oi lconsumption doubling from176,000 bbl/d in 2000 to 388,000bbl/d in 2012, the country mustimport a majority of refinedproducts to satisfy demand.

• Vietnam has one operatingrefinery, the 140,000- b b l / dDung Quat refinery, which cameonline in 2009. Vietnam's state-owned Vietnam Oil & GasCorporation (PetroVietnam) islooking to boost crude distillationcapacity to around 200,000 bbl/dby 2017 and to develop DungQuat's ability to handle sweetand less expensive sour crude oilfrom Russia, the Middle East, andVenezuela.

Energy Review Vietnam

• Vietnam plans to offer 49percent of Dung Quat's equity toforeign investors in order tofinance the expansion of DungQ u a t . T h e V i e t n a m e s egovernment is looking to buildtwo additional refineries, NghiSon and Long Son, though therehave been financial and landclearing issues that haveprevented the completion of theserefineries.

• PetroVietnam is the keycompany in the oil and naturalgas sectors and serves as theprimary operator and regulatorof the industry. Oil and naturalgas product ion is e i therundertaken by PetroVietnam'su p s t r e a m s u b s i d i a r y ,PetroVietnam Exploration andProduction (PVEP), or through PetroVietnam's joint venture withother companies.

• International Oil Companies(IOCs) such as ExxonMobil,Chevron, and Zarubezhneft haveformed partnerships withPetroVietnam. IOCs must receiveapproval from the Oil and GasDepartment of the Prime Minister,and must negotiate upstreamlicenses with PVEP.

• Vietnam currently holds 24.7trillion cubic feet (Tcf) of provednatural gas reserves, up from 6.8Tcf in 2011. Increased foreigninvestment since 2007 has led togreater exploration, significantlyincreasing Vietnam's provednatural gas reserves.

• Vietnam produced 272 billioncubic feet (Bcf) of dry natural gasin 2011, all of which wasdomestically consumed. Thecountry is currently self-sufficientin natural gas, but PetroVietnampredicts that there will be anatural gas supply gap of 1.3 Bcfper day by 2025 as demandsurpasses supply.

• The Vietnamese governmenthas considered importing liquefiednatural gas (LNG) in the future to meet growing natural gas

demand. PetroVietnam (PV) Gashas signed a memorandum ofunderstanding and a front-endengineering and development(FEED) contract with the Tokyo Gas Company to develop the ThiVai LNG terminal in the Vung Tauprovince.

• Vietnam produced about49,079 thousand short tons ofcoal in 2011, of which almost half(23,739 thousand short tons) wasdomestically consumed. Vietnamexports a large portion of its coaland also imports a small amount.In 2013, the Vietnamesegovernment increased the coalexport tax to 13 percent from10 percent to reduce exports andsatisfy growing energy demandwith domestic production,particularly in the power sector.Electricity consumption nearlyquadrupled from 22 billionkilowatthours (KWh) in 2000 to86 billion KWh in 2010 and wasgenerated almost entirely byhydropower, natural gas, andcoal. Vietnam anticipates powerdemand to more than triple to330 bill ion KWh by 2020.

• Vietnam, the Philippines,Malaysia, China, Taiwan, andBrunei all claim sovereignty overthe Spratly Islands in the SouthChina Sea, which remains a keyterritorial dispute for Vietnam.Vietnam and several of itsne ighbors have reachedagreements in principle in thepast to conduct joint explorationfor oil and natural gas resourcesin the area, although continuedterritorial disagreements havehindered these efforts.

Source: Energyfiles.com, EIA, Norton RoseFulbright

Oil and gas law inVietnam

Legal frameworkThe Law on Petroleum 1993, asamended in 2000 and 2008, isthe principal legislative instrumentthat governs the oil and gasindustry.

In the Law,

“Petroleum” is defined toinclude crude oil, natural gas andhydrocarbons. It includes coalbed methane and sulphur; andto exclude coal, shale, bitumenand other minerals from whichoil can be extracted;

“Petroleum operations” isdefined as being explorationactivities, field development andproduction of petroleum, and itincludes services directly relatedto or in support of such activities;

“Contractor” means anyV i e t n a m e s e o r f o r e i g norganisation which is permittedto conduct petroleum operationspursuant to a petroleum contract:

“Petroleum contract” meansany contract between PVN andanother party to conductpetroleum operations.

“Encouraged petroleuminvestment projects” areprojects in deepwater and remoteareas or in regions with extremelydifficult geographical or geologicalconditions as determined by thePrime Minister.

The Government determines theblocks which will be madeavailable for exploration. Allsamples, data and informationcollected during petroleumoperations are the property ofVietnam.

A contractor producing oil maybe entitled to retain and exportan agreed percentage of theproduction, and it may remitincome.

Energy Review Vietnam

Royalties and taxesRoyalties must be paid on oilproduction. There is a scale ofroyalties with concessional ratesfor encouraged projects. Thelowest rate is imposed on crudeoutput of up to 20,000 b/d of 10per cent (7 per cent forencouraged projects); the highestrate is imposed on crude outputof above 150,000 b/d at the rateof 29 per cent (23 per cent forencouraged projects).

Corporate income tax (“CIT”)rates on petroleum explorationand extraction in Vietnam arebetween 32 per cent - 50 percent as decided by the PrimeMinister.

Foreign contractor tax (“FCT”) isa type of withholding tax imposedon offshore contractors.Thecalculation of FCT will varydepending on the method of taxpayment is chosen by the foreigncontractor, the precise nature ofthe goods or services beingprovided, the duration of thecontract and whether the foreigncontractor has a permanentpresence in Vietnam. It isimposed on revenue in respectof both CIT and VAT.

Import duties are applied butthere are exemptions for manyimported goods which are usedin the oil and gas industry. Theseinclude equipment and machinery,specialised means of transport,health and office equipment, andmaterials which cannot beproduced in Vietnam. Exportduties are imposed on the exportof crude oil.

VAT is imposed at a standard rateof ten per cent. Equipment,machinery, spare parts, special-use means of transport andnecessary supplies which cannotbe domestically produced yet andwhich are required to be importedto be used in prospecting,exploration, and development ofoil and gas fields; drillingplatforms which are not yet ableto be produced domestically and

which are required to be importedto form fixed assets of enterprisesor which are leased from foreignparties for use in production andbusiness and in order to be sub-leased; and export products beingexploited natural resources andminerals which have not yet beenprocessed; are not subject to VAT.The standard VAT rate is ten percent.

Vietnam has double tax treatieswith 62 countries, including mostjurisdictions where petroleumcontractors operating in Vietnamhave headquarters, but excludingthe USA.

Taxes are imposed on gasproduction. For gas output of upto 5 million cubic meters/day, theroyalty is 1 per cent forencouraged projects and 2 percent for standard projects atminimum scale; and may reach6 per cent and 10 per centrespectively for gas output ofabove 10 million cubic meters/dayat maximum scale.

If exported, the oil and gasproduction upon which royaltieshave been paid shall be exemptedfrom 10 per cent export taxapplicable to crude oil andcondensate.

Any sale of equity in a Vietnamesecompany by an oil and gascontractor is subject to CIT at thestandard rate (currently 25 percent). It is not subject to VAT.

An environmental protection taxcommenced in 2012. It isimposed on goods which mayc a u s e d a m a g e t o t h eenvironment, including oil andgas. It applies to both theproduction and import ofpe t ro leum produc ts . Anexemption exists from mostexported products.

Contractors are also obliged tocontribute part of their annualoperating cost to the PetroleumScience and Technology ResearchFund run by PVN.

ContractsThe Law sets out the main itemsthat must appear in anypetroleum contract. Suchcontracts can be for a period ofup to twenty five years, includingan exploration period notexceeding five years, for standardprojects. For encouraged projectscontracts may be up to thirtyyears with exploration periods ofseven years. The Prime Ministermay extend a contract for fiveyears and the exploration periodfor two years unless theGovernment authorises a longerperiod. In the event of forcemajeure, the contract may besuspended by consent for up tothree years. A petroleum contractmay only extend over two blocks,unless the Government authorisesa wider scope.

The contract must be inVietnamese but may also be in aforeign language in which caseboth versions are equally valid.

A contract can only be assignedwith the consent of theGovernment, and PVN has firstpriority in the event of anassignment. Foreign arbitrationis permitted if either of the partiesi s fo re ign ind iv idua l o rorganization. Foreign law maygovern the contract, but theprovisions of the contract mustbe consistent with Vietnameselaw.

Exploration and productioncontracts are usually in ProductionSharing Contracts (PSCs), theform of which is legislated.

Refineries may be developedunder BOT and similar forms.

Service providers usually operateunder BCCs, which are a form ofjoint venture contract. Sometimesa subsidiary will be establishedwhich is jointly owned by theforeign service provider and there levant PVN subs id iary.

Energy Review Vietnam

Petroleum sharing contractsOn 22 Apr i l 2013, theGovernment published a revisedform of PSC which is effectivefrom 8 June 2013. PVN will onlyenter into the PSC in theprescribed form unless additionalarrangements have been includedin the successful tender. ThePrime Minister may approve theuse of a separate form, but thiswould only happen in veryunusual circumstances and theform still must contain prescribedmain contents.

The revised PSC is contained inDecree 33-2013 ND-CP. It iseffective from 8 June 2013. Itdoes not apply to PSCs that arein existence as well as blocks ofwhich fundamental economic,technical and commercialconditions approved by the PrimeMinister prior to that date.

Some of the notable amendmentsinclude the following:

1. The Contractor must includein its bid an offer to pay apercentage of its PetroleumOperating Costs to the PetroleumSc ien t i f i c Research andTechnology Development Fund.2. The revised PSC requires PVNto provide notice within 120 daysstating whether it will exerciseits pre-emptive rights overproposed assignments byContractors.3.PVN is given extra terminationrights. There arise where theContractor fails to commencedevelopment within twelvemonths of approval of thedevelopment plan or ceasesdevelopment activities underapproved schedule during sixconsecutive months, and whereproduction does not commencewithin twelve months of thescheduled time or ceasesexploitation activities during threeconsecutive months.

Source: Norton Rose Fulbright

Sou

rce:

EKFi

Gul f o f Tonk in

Gul f o f Tha i land

CAMBODIA

THAILAND

LAOS

CHINA

VIE

TN

AM

Hanoi

Source: BP Statistical Review

Energy Review Vietnam

Australia 4.0Brunei 1.1China 18.5

India 5.7Indonesia 3.7Malaysia 3.8Thailand 0.5Vietnam 4.4

Australia 448Brunei 126India 895

Indonesia 852Malaysia 666Thailand 453Vietnam 365

Australia 132.0Bangladesh 8.9

Brunei 9.7China 122.2

India 50.4Indonesia 101.5

Malaysia 38.1Myanmar 10.0Pakistan 20.4

Papua New Guinea 5.3Thailand 8.4

Vietnam 21.8

Australia 55.3Bangladesh 23.6

Brunei 11.9China 134.5

India 31.7Indonesia 73.4Malaysia 66.4Myanmar 16.8Pakistan 42.0Thailand 42.1Vietnam 10.2

Proved oil reserves at 2014 year end (Thousand million barrels)

2014 Oil production (Thousand barrels daily)

Proved natural gas reserves at 2014 year end (Trillion cubic feet)

2014 Natural gas production (Billion cubic metres)

Oil & Gas Companies Vietnam

AziPac

Eni

ExxonMobil

Gazprom

Geopetrol

Idemitsu

Japan Vietnam Petroleum Corporation (JVPC)

JX Nippon

KNOC

KrisEnergy

KUFPEC

Mitra Energy

Mitsui Oil Exploration Company

Mubadala Petroleum

Murphy Oil

Neon Energy

ONGC Videsh

Origin Energy

Pan Pacific Petroleum

Perenco

Petronas

Petrovietnam

Premier Oil

Quad Energy

Santos

SapuraKencana

Singapore Petroleum Company

SK Innovation

SOCO

Talisman Energy

Vietgazprom

Zarubezhneft

AziPac LimitedPO Box HM 3306, Hamilton HMPXBermuda

Office:AziPac Limited37 Serpentine Road,Hamilton HM09,Bermuda

AziPac Limited is an oil & gasexploration company focussedon offshore exploration in theAsia Pacific and Bay of Bengalregions and backed by theSeacrest Capital Group. Thecompany utilises its proventechnological strengths to identifyand de-risk significant explorationprospects.

Vietnam operations

In August 2014, Az iPacannounced the acquisition of a25% interest in Block 127 PSC,offshore Vietnam.

AziPac, through its subsidiaryAzimuth Vietnam Limited, signeda farm-in agreement with MitraEnergy, the operator, for a 25%participating interest in Block 127PSC, offshore Vietnam. As partof the deal, AziPac will pay aworking interest share of the

approved past costs and carrypart of Mitra’s costs of acquisitionand processing of a 3D seismicsurvey, scheduled to be acquiredin the second half of 2014.Acquisition of the 3D survey willcomplete the work programmeobligations for the currentExploration Phase which expireson 24 May, 2016. Block 127 islocated in the Phu Khanh Basin,off the SE coast of Vietnam. Thebas in remains re lat ive lyunderexplored and recent 2Dseismic confirms the potential ofthe bas in i n t e rms o fprospectivity.

The Seacrest Capital GroupThe Seacrest Capital Group is apremier energy investment groupfocused on the upstreamexploration segment of the oil &gas industry. The firm hasportfolio investments in NorthWest Europe, West Africa andSouth East Asia

With the long-term backing ofThe Seacrest Capital Group,AziPac has the ability to makesignificant and rapid investmentsand develop the extensive AziPacacreage posit ion offshoreSoutheast Asia and Bay ofBengal.

AziPac Vietnam

Block 127 PSCMitra Energy (Vietnam Phu Khanh) Pte Ltd 75%Azimuth Vietnam Limited 25%

Eni Exploration & ProductionDivisionVia Emilia, 1, 20097 San DonatoMilaneseItaly

Tel: +39.02.5201

Eni is a major integrated energycompany, committed to growthin the activities of finding,produc ing , t ranspor t ing ,transforming and marketing oiland gas. The company operatesin the oil and gas, electricityg e n e r a t i o n a n d s a l e ,petrochemicals, oilfield servicesconstruction and engineeringindustries. Eni is active in 70countries with a staff of about79,000 employees.

Vietnam operations

Exploration & ProductionPresence on the field: 21,500 km2, of which 10,750km2 net to EniMining concessions: 3

In July 2012, Eni signed anagreement with the Indiancompany Essar for the acquisitionof 50% and the operatorship ofthe exploration block 114, locatedoff the coast of Vietnam in theSong Hong basin.

Exploration activities on the newblock foresee the acquisition of3D seismic survey data and thedrilling of two wells. The block,which extends over about 5,900square kilometres, has a highpotential and is located in an areawhere there have been recentimportant exploration successes.

In the same basin, on June 25Eni signed acquisition agreementsfor two more blocks. Specifically,with the companies KrisEnergyand Neon Energy Eni signed anagreement for the acquisition oftwo exploration blocks located inoffshore Vietnam, respectively,in the Song Hong and Phu Khanhbasins, in the Gulf of Tonkin. Itis estimated that the Song Hongbas in , where s ign i f i cantbreakthroughs have recentlybeen recorded, containes 10%of Vietnam’s hydrocarbonresources, mainly gas.The agreement relates to blocks105-110/04 and 120, of which

Eni is operator with a 50%interest, while KrisEnergy andNeon Energy will own 25% each.The two blocks extend over atotal of about 15,600 squarekilometres. In the short term,exploration activities will involvefor the acquisition of 3D seismicdata and the drilling of twoexploration wells.

Both of these agreements aresubject to approval by thec o m p e t e n t V i e t n a m e s eauthorities.

Joint Technical StudyAgreement to Evaluate ThePotential Of UnconventionalHydrocarbons in VietnamIn February 2013, the Presidentand CEO of Vietnam Oil and GasGroup (Petrovietnam), thenational oil company, Do VanHau, and the Chief ExecutiveOfficer of Eni, Paolo Scaroni,today signed an agreement inHanoi for the joint assessmentof unconventional hydrocarbonspotential of the country. Theagreement follows the signing ofa Memorandum of Understandingbetween the two companies on21 January 2013 in Rome, whichprovides Petrovietnam with theopportunity to expand itsinternational activities and theopportunity for Eni to consolidateits presence in Vietnam.

The study will be carried out bya mixed Petrovietnam-Eni teamand will benefit from Eni’ssubstantial wealth of knowledgeand proprietary expertise.

Offshore Block 122In June 2014, Eni signed aProduction Sharing Contract(PSC) for the exploration of theoffshore Block 122.

Block 122 covers an area of6,900 sqkm in the Phu KhanhBasin, in waters depth up to2,000 meters. The explorationperiod will last 7 years, subdividedin 2 phases.

Eni Vietnam

This new agreement confirmsEni’s interest to continue andconsolidate its presence inVietnam, where the companyreturned in 2012.

Blocks 116 and 124In October 2014, Eni signed twoProduction Sharing Contracts(PSCs) for the exploration ofblocks 116 and 124, located offthe coast of Vietnam.

Block 116 covers an area of about5,000 sqkm in the Song Hongbasin, in waters with a depthranging from 10 to 120 meters.The PSC block, wholly owned byEni, provides for an explorationperiod of seven years divided into3 phases.

Block 124 covers an area of 6,000sqkm in the Phu Khanhbasin, inwaters that have a depth rangingfrom 50 to 2,600 meters. ThePSC provides for an explorationperiod of seven years divided into2 phases. This block is held byEni, which is the operator with a60% stake, and by SantosVietnam with a 40% stake.

Seismic programIn March 2015, the CGG Amadeusvessel commenced a 570 sq. km.3D seismic acquisition programin the Block 120 explorationacreage offshore central Vietnam.

Block 120 covers 6,869 sq. kmoverlying the Quang Ngai Grabenand the Tri Ton Horst where waterdepths range from 50 to 650metres. The graben connects theSong Hong and QiongdongnanBasins in the north to the PhuKhanh Basin in the south.

Eni Vietnam B.V. is the operatorwith 66.67% working interest inBlock 120 and is partnered byKrisEnergy who hold a 33.33%working interest.

Eni Vietnam

Exxon Mobil CorporationHanoi Office:5-06 Hanoi Towers49 Hai Ba Trung Street, HoanKiem DistrictHanoi

Tel: +84 4 3938 6586

Corporate HeadquartersExxonMobil5959 Las Colinas BoulevardIrving, Texas 75039-2298

Tel: +1 (0)972 444-1000Fax: +1 (0)972 444 1350

Exxon Mobil Corporation wasfounded in 1870 and is based inIrving, Texas.

The company has leadingpositions in nearly all the majorexploration and production areasin the world and in the newestopportunities, including the Gulfof Mexico, offshore West Africaand the Caspian Sea.

Exxon Mobil Corporation'supstream business is organizedinto five global companies:Exploration, Development,Production, Gas Marketing, andResearch. The Company is theworld's largest non-governmentproducer and reserves holder.

ExxonMobil's portfolio consists ofdiscovered oil and gas resourcesof 70 billion oil-equivalent barrels,activities in some 50 countriesand a leading acreage positionin the world's most promisingexploration areas.

2013 Operating Highlights• Liquids production (net,

thousands of barrels per day) 2,202

• Natural gas production available for sale (net, millions of cubic feet per day)11,836

• Oil-equivalent production(2) (net, thousands of oil-equivalent barrels per day)4,175

ExxonMobil's upstream businessencompasses high-qual ityexploration opportunities acrossa l l r esource types andgeographies, an industry-leadingresource base, a portfolio ofworld-class projects, and adiverse set of producing assets.The company have an activeexploration or productionpresence in 39 countries.

Vietnam operations

ExxonMobil’s main presence inVietnam is through Exploration

and Production Vietnam Limited(EMEPVL), which is conductingexploration activities immediatelyoffshore of the Danang area alongcentral Vietnam and also offshoresou the rn V i e tnam. Theexploration activities includeacquiring seismic data and drillingexploratory wells.

In October 2011, ExxonMobildiscovered oil and gas offVietnam's central coast. Thediscovery lies in the South ChinaSea, where Vietnam has rich oilreserves. State-run PetroVietnamand international oil companiesalready produce at several majorfields in the area. A number ofcompanies recently have foundoil in the region, includingMalaysia's Petroliam NasionalBhd., U.K.-based Premier Oil,Russia's Gazprom and France'sTotal.

ExxonMobil Vietnam

JOC "Vietgazprom"Unit No. 2001-2008, floor 20th,Keangnam Hanoi LandmarkTowerPlot E6, Cau Giay urban area, MeTri communeTu Liem district, Hanoi city,Vietnam

Tel: 84-4-37718985Fax: 84-4-37719031Email: vgp@zargaz.ru

GazpromHead Office16 Nametkina St.MoscowRussian Federation

Tel: +7 (495) 719-30-01Fax: +7 (495) 719-83-33Email: gazprom@gazprom.ru

Gazprom is a global energycompany. Its major business linesare geological exploration,production, transportation,storage, processing and sales ofgas, gas condensate and oil, salesof gas as a vehicle fuel as wellas generation and marketing ofheat and electr ic power.

Gazprom holds the world’s largestnatural gas reserves. TheCompany’s share in the globaland Russian gas reserves makesup 18 and 72 per centrespectively. Gazprom accountsfor 14 and 74 per cent of theglobal and Russian gas outputaccordingly. At present, theCompany actively implementslarge-scale projects aimed atexploiting gas resources of theYamal Peninsula, Arctic Shelf,Eastern Siberia and the Far East,as wel l as hydrocarbonsexploration and productionprojects abroad.

Vietnam operations

Gazprom and the Vietnamese oiland gas corporation Petrovietnamsigned a Cooperation Agreementon November 20, 2006. TheAgreement p rov ides fo rcooperation of the companies inthe following areas:• exploration, development,

transmission, utilization and sales of natural gas, oil and other energy resources;

• engineering, construction, operation and maintenance ofoil and gas pipelines, oil and gas storage facilities as well asdistribution pipeline systems;

• diagnostics and control of technical condition and safety of gas and oil pipelinesas well as other facilities of gasand petrochemical infrastructure;

• utilization of oil and gas as a motor fuel, development andmanagement of gas distributionsystems and a filling stationsnetwork;

• processing of oil, gas and othertypes of hydrocarbon feedstock;• supply of oil and gas derivatives

as well as equipment for the oil and gas industry.

The document also provides forcooperation of the companies inpromising projects in thirdcountries including explorationand development of gas and oilfields.

An Agreement on FurtherCooperation between Gazpromand Petrovietnam was signed onMay 23, 2008 covering geologicalexp lo ra t i on and fu r therdevelopment of four new blocksoffshore Vietnam. Vietgazprom,a joint operating company, arethe operator of the project forthe development of these blocks.The Agreement also provides thatthe par t i es es tab l i sh aGazpromviet joint venture toperform activities in Russia andthird countries.

Gazprom and Petrovietnamsigned a Strategic PartnershipAgreement on December 15,2009. The document provides forcooperation of the companies inthe following areas:• further joint work in

Vietnamese offshore blocks under the previously concludedoil and gas contracts;

• studying follow-up cooperationopportunities in the vacant licensed blocks of Vietnam;

• active cooperation in oil and gas projects in Russia, Vietnamand third countries within theestablished Gazpromviet company (in particular, the parties consider participation in the development of the Nagumanovskoye oil, gas and condensate field as well as in projects for exploration and development of subsurfaceareas in the Republic of Sakha,Eastern Siberia and the Far East);

Gazprom Vietnam

Sou

rce:

EKF

• sci-tech cooperation development;

• establishment of a Joint Coordinating Committee and a Joint Working Group.

Blocks 112 and 129–132Geological exploration in block112 offshore Vietnam is beingperformed by Vietgazprom – ajoint operating company ofGazprom and Petrovietnam. Thecontract signed on September11 , 2000 p rov i des f o rhydrocarbons prospecting,exploration, production and sales.

Gazprom and Petrovietnamsigned an Oil and Gas Contracton blocks 129, 130, 131 and 132in October 2008.

In addition to the StrategicPartnership Agreement, Gazpromand Petrovietnam signed anAddendum to the Oil and GasContract for block 112 onDecember 15, 2009. TheAddendum includes the decisionsprevious ly taken by theVietnamese Government onextending the scope of theContract to cover adjacent blocks111 and 113 and on executingtwo oil and gas contracts (block

112 and blocks 129–132) by asingle operator, which isVietgazprom.

First successA commercial gas inflow wasobtained in August 2007 duringthe first exploratory well testingin Bao Vang as part of theprospecting activities in block112 offshore Vietnam in the Gulfof Bac Bo performed byVietgazprom.

According to the survey data, gasflow rate was up to 400,000 cubicmeters a day. The well outputalso showed the presence of gascondensate.

In addit ion, in 2009 theneighboring area of Bao Denyielded 300,000 cubic meters ofgas a day. Therefore, two fieldswere discovered within block 112.

Cooperation broadeningIn April 2012 Gazprom andPet rov ie tnam s igned anagreement on Gazprominvolvement in the developmentproject for blocks 05.2 and 05.3offshore Vietnam in the South

China Sea. The documentstipulates that Gazprom willobtain a 49 per cent stake in theProduction Sharing Agreementsthat set forth the conditionsrequired for implementing theproject. The Russian party in thisproject will be represented byGazprom EP International.

Two gas and condensate fields –Moc Tinh (block 05.3) and HaiThach (blocks 05.2 and 05.3), aswell as the Kim Cuong Tay oilfield (block 05.2) were discoveredwithin the blocks. The aggregatereserves of the two gas andcondensate fields are evaluatedat 55.6 billion cubic meters ofgas and 25.1 million tons of gascondensate.

It is planned to launch theconstruction of 16 productionwells 2,000 to 4,600 meters deepin order to develop the fields.At present, the pre-developmentof these fields is nearly completedand the first exploratory wellconstruction has started. The HaiThach and Moc Tinh fields outputwill be delivered to shore throughthe existing Nam Con Sontrunkline.

Gazprom Vietnam

Gul f o f Tha i lan d

CAMBODIAV

IE

TN

AM

129

130

131

132

Gazprom Investment Blocks

Ho Chi Minh

Geopetrol S.A.11, rue TronchetLe Palacio Madeleine75008 PARISFrance

Tel: +33 (0)1 70 61 76 72Fax: +33 (0)1 40 07 57 45Email: contact@geoholding.com

Geopetrol International4bis, rue de la RôtisserieBP 32901211 Genève 3Suisse

Tel: +41 22 319 2680Fax: +41 22 319 2681Email: info@geogrouphq.com

Geopetrol was formed in the earlynineties - at a time when the oilindustry economy was in a downturn - with a strong commitmentto maintain the oil and gasproduction of old fields known as"mature fields". These fields,which were ready to be closeddue to the policies of the "majors"to concentrate on projects morein line with their size, were takenover by Geopetrol and thus givena second life. The Geopetrolorganisation has always beenadapted to the size of thepurchased Assets, which enablesthe optimisation of operationalcosts and the extension of theduration of profitable exploitation.Similar opportunities will comeinto existence in many countries,with more fields becoming maturewith time.

Geopetrol group has successfullydeveloped its activities in severalcountries, mainly France, Vietnamand India. Recently, by investingin CANDAX, listed in Toronto,Geopetrol was able to set up along term presence in Tunisia.

In April 2012, a ProductionSharing Agreement was signedwith the Ministry of Oil andMinerals in Yemen for Block 80,located in the Wadi Sar region.Geopetrol International isoperator of the block.

In February 2012, Geopetrolfinalised a partnership agreementwith Sonoro Energy Ltd. for theexploration and production ofheavy oil in the province of SalahAd Din in Iraq.

In January 2012, Geopetrolannounced the award of aProduction Sharing Contract bythe Ministry of Energy inMyanmar for the block RSF-9 inpartnership with the localcompany A-1 Construction.Geopetrol has been electeddesignated Operator.

In September 2011, a partnershipagreement was concluded withMitra Energy (Operator) for theoffshore block Biliton in the JavaSea in Indonesia.

Vietnam operations

Geopetrol International holds3.5% of Block 15-1 in the CuuLong Basin, offshore South-eastV i e t n a m . G e o p e t r o lInternational’s partners arePetrovietnam, Perenco, KNOCand SK Energy. Four fields havebeen discovered so far (3 oil fieldsand 1 gas field).

The first oil discovery was in theregion of Su Tu Den, in August2000, with production starting inOctober 2003.

A second oil discovery in the SuTu Vang region was made inOctober 2001. Production startedin October 2008.

This was followed by a thirddiscovery in November 2003 inthe region of Su Tu Trang showinggas and condensate reservoirs.Three appraisal wells are beingdrilled on the site with productiontests to be performed. First gasproduction should start in 2012.

Finally, a fourth discovery wasmade in September 2005 in theregion of Su Tu Nau. It is currentlybeing appraised. First oilproduction should start in 2014.

About 200 million barrels of oilhave been recovered from Block15-1 until January 2011. Theaverage daily production of oil in2010 was around 90,000 bopd(for 100%).

Geopetrol Vietnam

Source: EKF

Idemitsu Oil & Gas Co., Ltd.1-1 Marunouchi 3-chome,Chiyoda-ku, Tokyo 100-8321Japan

Tel: +81-3-6895-3974 (E&P)

Established in 1989, Idemitsu Oil& Gas Co. Ltd. acts as anoperating vehicle for Idemitsu E& P by promoting their activitiesin Norway, the UK, Vietnam andother countries in Southeast Asia.

Vietnam operations

Offshore Vietnam - Blocks 05-1b and 05-1cOn October 28, 2004, Idemitsu,as an Operator, entered into aProduction Sharing Contracttogether with Nippon OilExploration Limited (now JXNippon Oil & Gas ExplorationCorporation) and Teikoku Oil (ConSon) Co., Ltd. with Vietnam Oiland Gas Group (Petrovietnam)for the Blocks 05-1b and 05-1coffshore Vietnam. After the officialapproval from the Vietnamesegovernment as of November 18,we established an operation officein Ho Chi Minh City in January2005 and commenced theexploration activities.

These blocks are located 350 kmsoutheast of Ho Chi Minh Cityand under the same basin as theDai Hung field and the LanTay/Lan Do gas fields in highlypotential gas and oil producingbasins. A 3D seismic survey

covering 598 km2 and a 2Dse ismic survey cover ingapproximately 500 km, wereacquired in 2005. The firstexploratory well was drilled in2007. An additional 2D seismicsurvey covering approximately1,800 km was acquired in 2007and 2008. As the results ofevaluation of geological potentialbased on 2D seismic dataacquired in 2007 and 2008, thedecision was made to proceedinginto Phase Two. As a result of thesecond exploratory well whichw a s d r i l l e d i n 2 0 1 0 ,accumulations of oil and gas wereconfirmed. A 3D seismic surveycovering 814 km2 was acquiredin order to evaluate oil and gasdiscovered structure and otherpotential prospects in theseblocks. As the results of detailedevaluation, the decision wasmade to proceeding into PhaseThree.

PartnersIdemitsu Oil & Gas Co.,Ltd.(operator): 35%JX Nippon Oil & Gas Expl. Corp:35%Teikoku Oil (Con Son) Co.,Ltd.:30%

Idemitsu Oil & Gas Vietnam

VIETNAM

CAMBODIA

Block 09-3

Block 05-1band 05-1b

Japan Vietnam PetroleumCompany Ltd.HeadquartersPetro VN Towers7th floor8 Hoang Dieu St.Vung TauVietnam

Tel: 84-064-3385693

Japan Vietnam PetroleumCorporation (JVPC) is a subsidiaryof JX Nippon Oil & Gas Explorationand operates Block 15-2 offshoreVietnam.

Rang Dong oil fieldRang Dong oil field is located135km south-east of Vung Tauin block 15-2 of the Cuu LongBasin in Vietnam. The blockcovers 400,000 acres and isproximate to the Bach and Rubyfields.

Japan Vietnam PetroleumCorporation (JVPC), a subsidiaryof JX Nippon Oi l & GasExploration, operates the fieldwith a majority stake of 46.5%.The remaining stake is held byPerenco (36%) and PetroVietnam(17.5%). Perenco purchasedConocoPhillips' stake in RangDong in the first quarter of 2012.

Rang Dong has been inproduction for more than 13years. In February 2011, JVPCand co-owners of the fieldannounced they would conducta pilot test for enhanced oilrecovery (EOR) from the field. Itwas claimed to be the firstoffshore EOR in south-east Asia.

An agreement to conduct a 20-day pilot test in June 2011 wassigned between the state ownedJapan Oil, Gas and MetalsNational Corporation (JOGMEC),PetroVietnam and JX Nippon Oil& Gas Exploration.

The test was concluded positivelyin February 2012, indicatingsignificant potential to ramp upproduction and reduce carbondioxide emissions. It involvedinjecting CO2 into the reservoirwell to improve production.

Sophisticated Technology toExplore the Basement RocksThe Rang Dong oil field and ThePhuong Dong oil field feature anunconventional fractured granitebasement rock reservoir that is

unique in the world. NOEX'sfracture evaluation technology ishighly valued and receivingworldwide recognition. Thecompany have been improvingthe productivity of the field byapplying advanced technologies,including the fracture evaluationtechnology and horizontalborehole drilling technology.

Japan Vietnam Petroleum Vietnam

Source: EKF

Ho Chi Minh (Vietnam)JX Nippon Oil & GasExploration CorporationHo Chi Minh City RepresentativeOffice

Tel: +84-(0)8-3910-6900Fax: +84-(0)8-3910-5282

Vung Tau (Vietnam)Japan Vietnam PetroleumCompany, LimitedTel: +84-(0)64-3856937Fax: +84-(0)64-3856943

Head Office (Japan)JX Nippon Oil & GasExploration Corporation

Tel: +81- (0)3-6275-5241Fax: +81- (0)3-3276-1361

JX Nippon Oil & Energy EuropeLimited4th Floor 4 MoorgateLondon EC2R 6DAU.K.

Tel: +44-(0)20-7186-0400Fax: +44-(0)20-7186-0419

JX Nippon Oil & Gas ExplorationCorporation (NOEX) is theupstream operations arm of JXHoldings, the parent company ofboth JX Nippon Oil & EnergyCorporation (formerly Nippon Oil)and JX Nippon Mining & MetalsCorporation (formerly NipponMining). The company exploresfor natural resources ranging fromcrude oil to liquefied natural gasand oil sand. NOEX has interestsin about 15 countries around theworld, with particular focus onMalaysia, Vietnam, and the NorthSea.

Vietnam operations

Project History2008 September: Startedproduction at Phuong Dong oilfield2008 July: Rang Dong oil fieldreached the cumulative oilproduction 150 million barrels2006 February: Rang Dong oilfield associated gas recovery andutilization project was registeredas a CDM Project under the KyotoProtocol (CERs were issued inFebruary 2008)2005 June: Rang Dong oil fieldreached the cumulative oilproduction of 100 million barrels1998 Aug: Started production atthe Rang Dong oil field1994 June: Discovered RangDong oil field in Block 15-21992 Oct: Acquired workinginterest in Block 15-2

Since the acquisition of Block 15-2 in 1992, the project has beenone of NOEX's key operations.JVPC, NOEX's subsidiary acts asoperator and has been involvedin the ongoing exploration anddevelopment of the block, andthe production of crude oil andnatural gas.

In November 2013, JX NOEXannounced that a 5-yearextension of the Block 15-2Production Sharing Contract(PSC) has been granted by theVietnamese government foractivities in the Rang Dong oilfieldwithin the block.

NOEX have now also acquiredBlocks 05-1b/c and Block 16-2where they are conductingexploration activities.

The Rang Dong oil field and ThePhuong Dong oil field feature anunconventional fractured granitebasement rock reservoir that isunique in the world. NOEX'sfracture evaluation technology ishighly valued and receivingworldwide recognition. NOEXhave been improving theproductivity of the field byapplying advanced technologies,including the fracture evaluationtechnology and horizontalborehole drilling technology.

Blocks 05-1 b/c,Block 16-2In November 2007, NOEXacquired working interest inSouthern Vietnam offshore Block16-2 in cooperation withPetroVietnam Explorat ionP r oduc t i o n ( PVEP ) andVietsovPetro (VSP), which isjointly managed by PetroVietnam(PV) and Russia’s state-ownedZarubezhneft.

NOEX acquired working interestsin Southern Vietnam offshoreBlocks 05-1b/c in cooperationwith ldemitsu Oil & Gas andTeikoku Oil in October 2004.

JX Nippon Oil & Gas Vietnam

Vung Tau

Ho Chi Minh

SU TU DENAURORA

RANG DONG

BACH HO

RONG

01

15-1V I E T N A M

15-2

16-2

16-109

Block 16-2 location

KNOC Vietnam Office10th Floor, Diamond Plaza, 34 LeDuan St., Dist. 1Ho Chi Minh, Socialist Rep. ofVietnam

Vung Tau OfficeRong Doi Project Vung Tau Office#405, 4th Floor, Petro TowerBuildingNo. 8 Hoang Dieu Street, VungTau CityVietnam

Korea National OilCorporation57, 212nd Street, Gwanpyeong-ro, Dongan-gu,Anyang-si, Gyeonggi-do, Korea,431-711

Tel: 82-31-380-2114Fax: 82-31-387-9321

Korea National Oil Corporation(KNOC) is a state-owned oilcompany founded in 1979 toensure stability in domestic oildemand and supply. TheCompany has been engaging inexploration and production ofdomestic and overseas oilresources, oil stockpil ing,improvement of oil distributionstructure and oil informationservice, and pioneering the futureof Korea’s energy industry.

Vietnam operations

Block 11-2KNOC obtained operatorship ofthis block in May 1992. The RongDoi(Twin Dragon) and Rong DoiTay(Twin Dragon West) gas fieldswere discovered by KNOC inMarch 1998. KNOC signed aninterim gas sales purchaseagreement with PetroVietnam inDecember 2004, which wasfinalised shortly thereafter andcommenced construction worksfor the development of the gasfield, which was completed onschedule in less than two years.

Korea National Oil Corporation(KNOC) is sole operator andcar r ies out exp lora t ion ,development and productionactivities in Block 11-2, located320km offshore Vietnam.

KNOC holds 75% participatinginterest in this block on behalf ofitself and a Korean Consortiumwhich consists of LG InternationalCorp., Daesung Industrial Com.,Daewoo International Corp.,Hyundai Corp., Samwhan Corp.,

and Seoul City Gas Co. Ltd.PetroVietnam Exploration andProduction Company(PVEP) alsoholds 25% participating interestin Block 11-2.

This field commenced productionon December 25, 2006. Now 7Production Wels in the fields areproducing the average 171 millionstandard cubic feet of natural gasper day upon the buyer's gasnomination. The recoverablevolume of this block is 770 billionstandard cubic feet andProduction will continue by 2024.

Total Reserves: 770 billion cubicfeetDaily production: 171 millioncubic feetProduction Period: 17 years, 2007- 2024

Block 15-1CLJOC is a joint operatingcompany for the Block 15-1,located 50km offshore Vietnam.A Petroleum Contract was enteredinto in September 1998.Contractor Parties consist ofPetroVietnam Exploration andP r o d u c t i o nC o m p a n y ( P V E P ) ( 5 0 % ) ,ConocoPhillips(Perenco)(23.25%), Korean Nat ional Oi lCorporation (KNOC) (14.25%),SK Energy (9%) and Geopetrol(3.5%).

After the first discovery of Su TuDen F i e l d , C L JOC hadconsecutively successful resultsfrom Su Tu Vang(Gold Lion) inOctober 2001, from Su TuTrang(White Lion) in November

KNOC Vietnam

Vietnam Assets

Block Contract Acreage Working Operator Production Phase(Km2) Interest Sept 2013

(boed)

11-2 PSC 691 39.75% KNOC 33,089 Production

15-1 PSC 800 14.25% CLJOC 46,000 Production

Source: EKF

2003, and from Su Tu Nau(BrownLion) in September 2005.

In Su Tu Den Southwest field 25production wells are nowproducing an average 19thousand barrels of oil per day.The Su Tu Den offshore facilitiesconsist of the Cuulong Thai BinhFPSO, a 28 well slots wellheadplatform (WHP-A), and over2.4km of pipelines(from WHP-Ato PLEM). The oil produced fromSu Tu Den field is processed andstored on boarding the FPSO, aFloating Production Storage andOffloading vessel (FPSO). TheThai Binh FPSO has 1 millionbarrels of storage capacity. Theoil produced from Su Tu Den Fieldis exported to FPSO.

In the Su Tu Vang field 10production wells are nowproducing an average 7 thousandbarrels of oil per day. The Su TuVang offshore facilities consist oft h e c en t ra l p r o c e s s i ngplatform(CPP). The oil producedfrom Su Tu Vang field is exported

from CPP (100 thousand barrelsof processing capacity per day)to FPSO.

Also Su Tu Den Northeast fieldwas completed in Apr 2010 andthis field is producing average 8thousand barrels of oil per daynow.

The new development of Su TuTrang field was completed in Sep2012 and producing 45 millioncubic feet of gas and 7 thousandbarrels of condensate per day.Su Tu Nau field will commenceproduction in 2014.

The estimated recoverablevolume of Su Tu Den, Su Tu Vang, Su Tu Trang and Su Tu Naufields is 621 million barrels andProduction will last by 2023.

Estimated Ultamate Reserves:621MMboeDaily production: 66MbblProduction Period: 20 years,2003~2023

KNOC Vietnam

Vung Tau

Ho Chi Minh

SU TU DENAURORA

RANG DONG

BACH HO

RONG

01

15-1V I E T N A M

15-2

16-2

16-109

Block 15-1 location

Source: EKF

Kris Energy Ltd.19F, Bitexco Financial TowerNo. 2, Hai Trieu St., Dist. 1, HoChi Minh CityTel: +84 8 39156009Fax: +84 8 39156008

KrisEnergy Ltd.83 Clemenceau Avenue, #10–05UE Square,Singapore 239920Tel: +65 6838 5430Fax: +65 6538 3622

Key Personnel:

Chris Gibson-RobinsonDirector Exploration & Production

Richard LorentzDirector Business Development

James ParkinVP Exploration

Chris WilsonVP Business Development

Brian HelyerVP Operations

Geoff BennettChief Geophysicist

Singapore's KrisEnergy hasinterests in 19 licences stretchingacross Bangladesh, Cambodia,Indonesia, Thailand and Vietnam.It has producing assets in theGulf of Thailand and the onshoreBangora gas field in Bangladesh,which together pump almost8,000 boepd, as well as a suiteof exploration, appraisal anddevelopment projects.

KrisEnergy's portfolio containsthree offshore producing assets,the Kambuna gas-condensatefield in Indonesia and the B8/32and B9A oil and gas blocks in theGulf of Thailand. The othercontract areas contain acombination of developmentprojects and explorat ionprospects.

Vietnam operations

There are more than 60 contractareas under licence in Vietnam,mostly located in the southernoffshore Nam Con Son Basin.KrisEnergy holds working interestin two exploration licences, Block105-110/04 covering 7,192 sqkm in shallow waters of the SongHong Basin offshore north-centralVietnam, and Block 120 covering8,469 sq km in moderate waterdepths in the northern Phu KhanhBasin, offshore central Vietnam.In March 2014, the company was

awarded 100% working interestand operatorship of theproduction sharing contract(“PSC”) for Block 115/09.

Although relatively l ightlyexplored with just over 70exploration, appraisal andproduction wells drilled to date,the Song Hong Basin containss o m e 2 5 d i s c o v e r i e s ,predominantly gas, with expectedultimate reserve recoveries ofapproximately 12 trillion cubicfeet of gas and 150 million barrelsof oil and condensate (IHS,2010). The Phu Khanh Basin iseven less explored with only fiveexploration wells drilled to date.It is notable, however, that threeof the wells were non-commercialoil or gas discoveries, indicatingthe attractiveness of the region.

Block 105Block 105-110/04 covers an areaof 7,192 sq km in the centralSong Hong Basin offshoreVietnamwhere water depths range from20 metres to 80 metres.

KrisEnergy holds a 25% non-operated working interest in Block105. Eni Vietnam is the operatorof Block 105 with 50% workinginterest and Neon Energy holds25%.

KrisEnergy Vietnam

Gulf of Tonkin

Block 105

Song Hong Basin

BeibuGulf

CHINA

VIETNAM

South China Sea

Phu Khanh Basin

VIETNAM

100 kms

Block 120

Source: Oligocene to MiddleMiocene lacustrine shales andMio-Pliocene deltaic/marineshalesReservoir: Oligocene to Pliocenedeltaic, marginal marine andturbidite fan sandsTrap: Tilted fault blocks,faultedanticlines and turbidite fansSeal: Oligocene to Plioceneregional and intra-formationalshales

Block 120Block 120 covers 8,574 sq kmoffshore Vietnam in the SouthChina Sea overlying the QuangNgai Graben in the north andcentral section of thecontact area passing into the PhuKhanh Basin in the southernportion of the block. Water depthsin the contract area range from50 metres to 1,100 metres.

KrisEnergy holds a 25% non-operated working interest in Block120. Eni Vietnam is the operatorof Block 105 with 50% workinginterest and Neon Energy holds25%.

Source: Eocene to Oligocenelacustrine shalesReservoir: Oligocene fluvialsands, Miocene carbonate reefsand turbidite fan sandsTrap: Tilted fault blocks, faultedanticlines, carbonate reefs andturbidite fansSeal: Oligo-Miocene intra-formational shales

Block 115/09Block 115/09 covers an area of7,382 sq km in the southern SongHong Basin where water depthsrange mainly between 60 metresand 200 metres. The PSC has aninitial four-year term, with anassociated work commitment ofreprocessing 3,000 km of existing2D seismic data, the acquisitionand processing of 850 sq km of3D seismic data and a singleexploration well. The seismicreprocessing will commence in2014 and wil l aid in the

identification of the block’sprospective areas over which 3Dseismic acquisition will beundertaken.

Block 105KrisEnergy increased its workinginterest in Block 105-110/4(“Block 105”) and took overoperatorship of the productionsharing contract following theexecution of a deed of assignmenton 9 March 2015 between EniVietnam B.V. (“Eni Vietnam”) andKrisEnergy (Song Hong 105) Ltd(“KrisEnergy 105”) (“Deed”).

Block 105 covers 7,192 sq. kmin the Gulf of Tonkin, overlyingthe central Song Hong Basinwhere water depths range from20 metres to 80 metres. A singleexploration well, Cua Lo-1, wasdrilled in the contract area in2013, which confirmed theexistence of a petroleum systemwithin the block.

KrisEnergy Vietnam

Kuwait Foreign PetroleumExploration CompanyAdministrative ShuwaikhArea 4, Street 102, Building No.9P.O. Box 5291 Safat, 13053Kuwait

Tel: +965 1836000Fax: +965 24951818

Key Personnel:

A. Naser Al-FulaijVice President - BusinessDevelopment

Hosnia S. HashimVice President - Operations

Established by its parent companyKPC, KUFPEC is an internationaloi l company, engaged inexploration, development andproduction of crude oil andnatural gas outside Kuwait, activein Africa, Middle East, Asia, UK,Norway and Australia.

KUFPEC participates in jointventures with similar companiesin E&P of Oil and Gas both as anoperator and partner.

Major Assets comprise of:• Offshore and onshore

exploration leases• Oil and Gas properties and

appraisal and development• Oil and Gas producing

properties

The corporate structure is dividedinto single corporate head officeand 6 area offices in Egypt,Tunisia, Indonesia , Australia,Pakistan and Norway.

Vietnam operations

Block 19 & 20 PSCs (KUFPEC:40% in each)The two PSCs are located in theNamConSon Basin, offshoreVietnam in the South China Seaand cover an area of 9,200 km2.Two exploration wells 19-TN-1Xand 20-MG-1X were drilled in Q32012. Both wells were P&Awithout hydrocarbon shows. Workprogram commitments have beenfulfilled and both PSC’s areplanned to be relinquished during2013 due to low remainingprospectively.

Block 51 PSC (KUFPEC : 35%)The PSC located in the MalayBasin, offshore South Vietnamcovers an area of 3,566 km2.Exploration well 51-TC-1Xdiscovered gas in Q4 2012 withhigh CO2 concentration; post wellanalysis is under way. During2012, 622 km2 of 3D seismicdata was acquired to evaluateadditional prospects in the Block.

KUFPEC Vietnam

Mitra Energy Limited3rd Floor, Suite 301Kumho Asiana Plaza Saigon, 39Le Duan Street, District 1, Ho ChiMinh City, Vietnam

Tel: +84 8 3823 7111

MalaysiaSuite 24.3, Level 24, Menara IMC

Mitra Energy Limited3rd Floor, Suite 301Kumho Asiana Plaza Saigon, 39Le Duan StreetDistrict 1, Ho Chi Minh City,Vietnam

Tel: +84 8 3823 7111

MalaysiaSuite 24.3, Level 24, Menara IMCNo. 8 Jalan Sultan Ismail, 50250Kuala Lumpur, Malaysia

Tel: +603 2031 8830

Singapore (Registered Office)21 Bukit Batok Crescent#15-79, WCEGA Tower,Singapore 658065

Tel: +65 6221 7814

Singapore (Registered Office)21 Bukit Batok Crescent#15-79, WCEGA Tower,Singapore 658065

Tel: +65 6221 7814

Contact:

Andy ButlerVP Business DevelopmentNguyen Quoc VietCommercial ManagerIan McMahonG&G Operations Manager

Vietnam Key PersonnelDave Goulding, VP TechnicalRob Herries, Geological AdvisorWalter Wuertz, GeophysicalAdvisorChan Yin-Hoe, SeniorGeophysicist

Mitra Energy Limited is a privatelyowned independent oil and gasexploration company focusing onthe Asia-Pacific region. Since thecompany's formation in mid-2005,its initial focus on Indonesia, thePhilippines, Vietnam and Thailandhas resulted in the acquisition ofa number of high qualityexploration assets.

Mitra's current explorationportfolio comprises approximatelymore than 62,000 km² (15.4million acres) of awarded acreageacross the Philippines, Vietnam,Indonesia and Thailand. Thecompany is exposed to netunrisked Prospective Resourcespotential of 11.2 billion barrels ofoil equivalent (P10). Mitra isdrilling five exploration andappraisal wells in 2013, plus upto ten wells per year in 2014 and2015, to test key plays andprospects within that portfolio. Anambitious programme of BusinessDevelopment seeks to capturefurther high quality assets andreplenish the portfolio ofexploration drilling options.

Vietnam operations

Block 51Mitra operates the PSC with 35%equity while KUFPEC also holds35% equity. The remaining 30%is held by PetrovietnamE x p l o r a t i o n P r o d u c t i o nCorporat ion (PVEP). Thepartnership drilled a discoverywell, 51-TC-1X, in 2012 and anappraisal well, 51-TC-2X, in 2014.In addition, an earlier discovery( U Minh discovery ) was madeby a previous operator, Fina,several years prior to the currentPSC, proximal and in a similarsetting to Mitra's Nam Dudiscovery on Block 46/07.

The Tho Chu discovery resourceestimate was independentlyaudited by Senergy (September2014 CPR), with a GrossContingent Resource of 49.8MMboe (2C) and 156.5 MMboe(3C).

The Gross Contingent Resourcesfor the U Minh discovery were14.7 MMboe (2C) and 24.0MMboe (3C).

Five prospects in the vicinity ofthe two discoveries have beenidentified from 3D seismic datain te rp re ta t i on . P rospec tevaluations were independentlyaudited by Senergy. The totalgross unrisked ProspectiveResource for the five prospectsare reported as 119 MMboe(Pmean) to 226 MMboe (P10).

Block 46/07Mitra holds 70% equity andoperatorship in the PSC, afterwithdrawal of Talisman from thePSC in November 2014. PVEPholds the remaining 30% equity.The partnership drilled twoexploration wells in 2013, the

Mitra Energy Vietnam

Gulf ofThailand

VIE

TN

AM

4551

46/07

127

Gul f o f Tonk in

CAMBODIA

THAILAND

LAOS

Ho Chi MinhCity

Hanoi

MVHN/12KSHainanIsland

CHINA

Vietnam operations

first of which, 46/07-ND-1X (NamDu), was a discovery.

The Nam Du discovery wasindependently audited bySenergy (September 2014 CPR)to have gross ContingentResources of 30.0 MMboe (2C)to 49.5 MMboe (3C).

Subsequently, 3D seismicinversion reprocessing has beenundertaken, calibrated to the2013 wells. This new dataset hashelped high grade three prospectsin the block for which Senergy(September 2014 CPR) reportedtotal gross unrisked ProspectiveResources of 29 MMboe (Pmean)to 56 MMboe (P10).

Block 45Mitra holds 70% equity andoperatorship in the PSC, afterwithdrawal of Talisman from thePSC in November 2014. PVEPholds the remaining 30% equity.The partnership drilled a sub-commercial oil and gas discoverywell, 45-VT-1X, in 2013.

Post-well 3D seismic inversionreprocessing calibrated to thewell has high-graded threeprospects in the block. Theseprospects were audited bySenergy (September 2014 CPR)who reported a total grossunrisked Prospective Resource of35 MMboe (Pmean) to 67 MMboe(P10).

Block 127Mitra operates the PSC with100% equity. The PSC representsMitra's first foray into frontierdeepwater explorat ion inVietnam. Activities are focusedon the unexplored deepwater,eastern half of the block. This isin view of the significanthydrocarbon potential in the area,associated with a thick, Tertiaryage sedimentary section.

Block MVHN/12KSMitra operates the PSC with100% equity. As a technical

partner, Halliburton InternationalInc. contributes their globalexperience in unconventionalhydrocarbon exploration andproduction to the explorationeffort.

Farm-outIn August 2014, AziPac, throughits subsidiary Azimuth Vietnam,has signed a farm-in agreementwith Mitra Energy, the operator,for a 25% participating interestin Block 127 PSC, offshoreVietnam. As part of the deal,AziPac will pay a working interestshare of the approved past costsand carry part of Mitra's costs ofacquisition and processing of a3D seismic survey, scheduled tobe acquired in the second half of2014. Acquisition of the 3Dsurvey will complete the workprogramme obligations for thecurrent Exploration Phase whichexpires on 24 May, 2016.

Upon completion of the farm-in,the participating interests in theBlock 127 PSC will be as follows:Mitra Energy (Vietnam PhuKhanh) Pte Ltd 75%; AzimuthVietnam Limited 25%.

3D seismic acquisit ionIn June 2015, Mitra Energy,through its subsidiary operatingcompany Mitra Energy (VietnamPhu Khanh) Pte Ltd, commenced3D seismic survey acquisitionoperations in the Block 127 PSCarea, offshore Vietnam. Thesurvey is being undertaken byPTSC CGGV Geophysical SurveyCo utilising the 3D seismic surveyvessel 'Amadeus'. The 3D seismicsurvey is planned to cover a full-fold area of 533 sq kms and willfulfil the PSC Exploration PhaseOne extension 3D seismic surveyacquisition commitment of 500full-fold sq kms.

Mitra Energy Vietnam

Vietnam PhilippinesIndonesia

Total 2C:69

MMboe

63%

37%

Total 3C:210

MMboe

RPR(1):770

MMboe

63%

37%

69%

16%

15%

Net Resources (2C, 3C and RPR)

An exploration well, 51-TC-1X(Tho Chu Prospect) was drilled inOctober 2012 to a total depth of3,185m MD and was a significantgas and liquids discovery.Independent evaluation estimatesthe Tho Chu field to have a net2C Contingent Resource of 37.7mmboe to a high estimate (3C)Contingent Resource of 55.2mmboe. Mitra and partners willdrill an appraisal well on the ThoChu field in late 2013. A 622 km²3D survey was also undertakenin Q3 2012 in the southeasternpart of the block, where appraisaldrilling on existing gas discoveriesis anticipated in 2014.

In 2010, Mitra (70% and operator)and PVEP (30%) signed a PSCwith Petrovietnam for Block 46/07,offshore Vietnam. Block 46/07covers an area of 3,281 km² andis located adjacent to Block 51,on the northeast margin of theMalay Basin. Mitra completed theacquisition of a commitment 387km² 3D seismic survey over thenorthwest corner of the block in2010, the interpretation of whichhas yielded a prospect inventorywith a net high estimate (P10)Prospective Resource size of 170mmboe. The prospects lieimmediately on trend with oil andgas discoveries and production inneighbouring blocks 46/02 and46-CN and as such are regardedas relatively low risk. Twoexploration wells are scheduledto be drilled within the block inthe second quarter of 2013. Thefirst well, 46/07-ND-1X, wasdrilled in May 2013 and resultedin an oil and gas discovery withover 40 metres TVD thickness ofnet pay. The second well, 46/07-HC-1X, was spudded in July 2013.In 2011, the same Mitra and PVEPpartnership signed another PSCwith Petrovietnam for Block 45.The block covers 4,677 km² andis situated adjacent to both Block51 and Block 46/07. A 270 km²3D seismic survey was acquiredahead of PSC signing, theevaluation of which was fast-

tracked in order to parallel theBlock 46/07 evaluation. Two keyprospects have been identifiedwith a combined net highestimate (P10) ProspectiveResource size of 145 mmboe.One of these prospects was drilledby an exploration well, 45-VT-1X, in June 2013, which was asub-commercial oil and gasdiscovery. Mitra is now conductingpost well evaluation beforedeciding on next explorationactivities.

Mitra and Talisman entered intoseparate farm-out agreementsfor the partial assignment ofMitra's participating interest inthe Block 46/07 and Block 45PSCs in December 2012. Underthe terms of the agreements,M i t ra a s s i gned a 35%participating interest in each PSCto Talisman.

In 2012, Mitra signed a PSC withPetrovietnam for Block 127,offshore Vietnam on a 100%equity basis. Block 127 coversan area of over 9,000 km² andis located at the southern end ofthe Phu Khanh Basin, off thesoutheast coast of Vietnam.Water depths in the block extendfrom less than 20m in the westto over 2,000m in the east.Mitra's activities are focused onthe unexplored deep water,eastern half of the block. Mitrabelieves there to be significanthydrocarbon potential in thisarea, associated with a thick,Tertiary age sedimentary section.A commitment 2D seismic surveywas completed in October 2012,in which a total of 4,015 full foldline km of 2D data was acquiredon behalf of Mitra by PTSC G&Susing the M/V Binh Minh 02. Thenew seismic data set will allowfor better characterisation of thebasin and for the high grading ofareas for exploration drilling. Thedata i s cur rent ly be inginterpreted. Initial evaluationshowed that the three leadsidentified could contain a

combined net high estimate (P10)Prospective Resource of up to2,087 mmboe.

Mitra entered into a Shale GasPSC with Petrovietnam for BlockMVHN/12KS, onshore Vietnam inFebruary 2013. Mitra operatesthe Shale Gas PSC with 100%working interest, with HalliburtonInternational Inc. in the ventureas technical consultant. Initialwork programme consists ofseismic reprocessing, wella n a l y s e s f o r s h a l echaracterization, basin modelingand pilot hole preparation.

Farm-outIn August 2014, AziPac, throughits subsidiary Azimuth Vietnam,has signed a farm-in agreementwith Mitra Energy, the operator,for a 25% participating interestin Block 127 PSC, offshoreVietnam. As part of the deal,AziPac will pay a working interestshare of the approved past costsand carry part of Mitra's costs ofacquisition and processing of a3D seismic survey, scheduled tobe acquired in the second half of2014. Acquisition of the 3Dsurvey will complete the workprogramme obligations for thecurrent Exploration Phase whichexpires on 24 May, 2016.

Upon completion of the farm-in,the participating interests in theBlock 127 PSC will be as follows:Mitra Energy (Vietnam PhuKhanh) Pte Ltd 75%; AzimuthVietnam Limited 25%.

Mitra Energy Vietnam

Ho Chi Minh City OfficeUnit 2&3, Level 13Saigon Centre65 Le Loi BoulevardDistrict 1Ho Chi Minh CityVietnam

Tel: +84-8-3821-2693/2694Fax: +84-8-3821-2661

Mitsui Oil Exploration Co., Ltd.Head OfficeHibiya Central Bldg.2-9 Nishi-Shimbashi 1-chomeMinato-ku, Tokyo 105-0003,Japan

Tel:+81-3-3502-5786Fax:+81-3-3502-7686

Since its foundation in 1969 by17 Mitsui group companies, MitsuiOil Exploration Co., Ltd. (MOECO),backed by the combinedstrengths of the Mitsui Group,has been working for long-termstable energy supply both forJapan and the world throughexploration and production of oiland gas.

Vietnam operations

Block B & 48/95 (MVP)MVP is preparing for thedevelopment of natural gas andcondensate from Block B & 48/95located off southwestern Vietnam,and plans to carry out jointcommercialization with theadjacent Block 52/97. In July2009, MVP and three partnerssigned a basic agreement forfront end engineering and design(FEED) with Vietnam Oil and GasGroup (PetroVietnam).

Mitsui Oil Exploration Vietnam

Block B & 48/95

Contract Area Block B & 48/95Company Moeco Vietnam Petroleum Co., Ltd. (MVP)Contract PSCStatus Preparation for developmentProject Interest Chevron Vietnam (Block B), Ltd. 42.38% (operator)

Moeco Vietnam Petroleum Co., Ltd. 25.62%PetroVietnam Exploration Production Corporation 23.50%PTTEP Kim Long Vietnam Co., Ltd. 8.50%

Block 52/97

Contract Area Block 52/97Company Moeco Southwest Vietnam Petroleum Co., Ltd. (MSVP)Contract PSCStatus Preparation for developmentProject Interest Chevron Vietnam (Block 52), Ltd.* 43.4%

PetroVietnam Exploration Production Corporation 30.0%Moeco Southwest Vietnam Petroleum Co., Ltd. 19.6%PTTEP Southwest Vietnam Co., Ltd. 7.0%

Mubadala PetroleumUnit 1707, 17th FloorKumho Asiana Plaza Saigon39 Le Duan Street, District 1Ho Chi Minh City, Vietnam

Tel: +84 8 3520 7499Fax: +84 8 3823 3535

Mubadala Oil and GasPO Box 45005Abu DhabiUnited Arab Emirates

Tel: +971 2 413 0000Fax: +971 2 413 0001

Mubadala PetroleumOne Raffles Place#11-61 Office Tower 2048616Singapore

Tel.: +65 6236 2940Fax: +65 6557 2775

Key Personnel:

Steven PeacockSenior Vice President, Exploration

Mussabeh Al-KaabiChief Growth Officer

Mubadala Oil and Gas builds onAbu Dhabi’s rich heritage inhydrocarbons to pursueopportunities that will meet theEmirates current and futureenergy demands.

Primary focus is on upstream oiland gas opportunities. Mubadalahave been able to leverage theexcel lent commercial andgovernmental relationships theyhave established over the years,both to facilitate the expansionof their operations, and to buildcapability in new regions includingMENA, Central and South EastAsia.

Mubadala's assets in theseregions have been complementedby expansion into new territories,such as the Caspian Sea. Thecompany are also active in R&Din the renewable energy sectorand in developing technologiestha t w i l l f a c i l i t a t e thec o m m e r c i a l i z a t i o n a n dw idespread adopt ion o falternative energy sources.

In Southeast Asia, the companyacts as operator across anextensive range of assets locatedin Thailand, Indonesia, Malaysiaand Vietnam. In the Gulf ofThai land, Mubadala havedeveloped a strong track recordof safe, efficient and cost-effectiveproduction operations, and arebringing forward several newdevelopments.

Vietnam operations

Mubadala have been involved ina n u m b e r o f e x c i t i n gopportunities offshore Vietnamsince 2007. The company hasbuilt up valuable partnershipswith Petrovietnam, Talisman, andother industry participants.

AppraisalBlock 07/03 is located in the NamCon Son Basin and contains theCa Rong Do (CRD) oil and gasfield, which was discovered in

2009. Mubadala Petroleum holds25 percent interest and Talismanis operator. Appraisal well CRD-3X successfully tested thereserves potential in 2013 andpost well studies will confirmcommerciality and identify thepreferred development concept.CRD, which at over 320 meters,would be the deepest waterdevelopment to date in Vietnam.

ExplorationMubadala are actively exploringthree blocks in Vietnam. Thecompany operates Block 04-2,holding 90 percent interest.

Blocks 135 & 136/3 are locatedadjacent to CRD offshore Vietnamand Mubadala Petroleum acquireda 20 percent interest in this deepwater block in May 2011.Operator Talisman Energyacquired 3D seismic data in 2012and the joint venture plans todrill the first exploration wells in2014. Mubadala Petroleum plansto drill between three to fiveexploration prospects acrossBlocks 04-2, 07/03 and 135 &136/03 during 2014.

Mubadala Petroleum Vietnam

Murphy Oil Corporation andMurphy Oil USA, Inc.200 Peach StreetEl Dorado, Arkansas 71730U.S.A.

Tel: (870) 862-6411

Murphy Eastern Oil Company4 Beaconsfield RoadSt. Albans, Hertfordshire AL1 3RH

Tel: 01-727-892-400

Murphy Sarawak Oil CompanyLtd.Level 26, Tower 2PETRONAS Twin TowersKuala Lumpur City Centre50088 Kuala Lumpur, Malaysia

Contact:

Hans F. SchwingVice President Vietnam andSoutheast Asia New Opportunities

Bill H. StobaughExecutive Vice President,Corporate Planning & BusinessDevelopment

Headquartered in El Dorado,Arkansas, the company wasoriginal ly incorporated inLouisiana in 1950 as MurphyC o r p o r a t i o n . I t w a sreincorporated in Delaware in1964, at which time it adoptedthe name Murphy Oil Corporation.But, the Company's roots go backto a lumber and banking businessin South Arkansas and, moredirectly, to 1907, when the firstoil production was established inthe Caddo Field in NorthLouisiana. Thereafter, oil and gaswere important phases of thebusiness. Until the mid 1930'showever, oil and gas remainedsubordinate to timber operationsand banking.

Today, Murphy Oil Corporation isan international oil and gascompany that conducts businessthrough various operatingsubsidiaries. The Companyproduces oil and natural gas inthe United States, Canada, theUnited Kingdom, Malaysia, andRepublic of the Congo andconducts exploration activitiesworldwide. The Company ownsmarketing operations in theUnited States and the UnitedKingdom, including a refinery inMilford Haven, Wales.

Vietnam operations

Murphy entered Vietnam in 2012with the award of deepwaterBlocks 144 and 145. In 2013,the Company were awardedshallow water Block 11-2/11 andfarmed into Block 13-03. Thethree PSCs give Murphy a balancebetween higher risk deepwateropportunities and lower riskshallow water opportunities,similar to the position theyacquired when entering Malaysia.Murphy are actively evaluatingadditional opportunities in thecountry which they feel isunderexplored.

Assets

Block: 144 & 145Basin: Phu KhanhWorking Interest: 65%, operatedArea: 4,420,000 gross acresWater Depth: 1,000 to 2,500metersProspective for: Oil & GasDate of Entry: October 2012

Block: 11–2/11Basin: Nam Con SonWorking Interest: 60%, operatedArea: 677,000 gross acresWater Depth: 70 to 90 metersProspective for: Oil & GasDate of Entry: June 2013

Block: 13-03Basin: Nam Con SonWorking Interest: 20%, non-operatedArea: 853,000 gross acresWater Depth: 90 metersProspective for: Oil

Petrovietnam cooperationwith Murphy OilPetrovietnam and Murphy OilCorp signed a memorandum ofunderstanding (MoU) on July 8,2015 to boost cooperation in oiland gas projects. The MoU wassigned by Petrovietnam ChairmanNguyen Xuan Son and thePresident and CEO of Murphy OilCorp, Roger W. Jenkins, in thepresence of General SecretaryNguyen Phu Trong, who is on avisit to the United States.

In October 2015, Murphy reachedan agreement with PetroVietnamE x p l o r a t i o n P r o d u c t i o nCorporation (PVEP) and SKInnovation Co. Ltd. (SK) to farm-in to the 15-1/05 ProductionSharing Contract (PSC), in thehighly prospective, oil prone, CuuLong Basin, Offshore Vietnam.Murphy will hold a 35 percentworking interest in the PSC.

Murphy Oil Vietnam

Sou

rce:

EKF

Neon Energy LimitedGround Floor88 Colin StreetWest PerthWestern Australia 6005

Tel: +61 8 94811176Fax: +61 8 94817720Email: info@neonenergy.com

Contact:Dave CliffExploration Manager

Neon Energy Limited is anAustralian Stock Exchange listedcompany (ASX: NEN) focusedon oil and gas exploration andproduction in Southeast Asiaand California. Californian oilproduction from the 100%owned North San Ardo fieldfunds the Company’s overheadsand distinguishes Neon frommany of their peer companies.

Neon was formed in 2009through the purchase of privatecompany Neon Energy Pty Ltdby Salinas Energy Limited, anASX listed entity. The mergedentity combined Neon’s highlyp r o spec t i ve V i e t nameseexploration assets with SalinasEnergy’s diverse portfolio ofCalifornian production, appraisaland exploration assets. Sincethat time the Company hasadded the Indonesian Tanjung

Aru exploration block to itsportfolio, and has successfullyfarmed out the two Vietnamblocks to KrisEnergy Ltd and EniS.p.A. The cost of drilling twohigh-impact exploration wellsin Vietnam during 2013 will besubstantially carried by Eni,offering significant upside toNeon at minimal cost.

In California Neon is focused onmaximising cashflow from NorthSan Ardo and apprais ings i gn i f i c an t hyd r o ca r bonresources which are proven atits Paloma and Paris Valleyprojects.

Vietnam operations

Neon has been involved inVietnam since early 2009, whenthe Company signed the Block120 Production Sharing Contract

Neon Energy Vietnam

CAMBODIA

South China Sea

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Da Nano

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Block 105-110/04 Neon Energy

Block 111/04

Block 112

Block 114

Block 113

Block 115

Block 116 Block 117

Block 118

Block 119

Block 120Neon Energy

Block 121

as 100% participating interestholder and Operator. In early2010 Neon signed the Block105-110/04 Production SharingContract and farmed out aninterest in both blocks toKrisEnergy Ltd, in return forKrisEnergy funding the 2Dseismic work commitment in theblocks.

In June 2012 both Neon andKrisEnergy reached agreementwith Eni Vietnam B.V., a whollyowned subsidiary of Eni SpA, tofarmout an interest in the blocksin return for Eni carrying Neonand KrisEnergy through two 3Dseismic programmes and twoexploration wells. Eni willbecome Operator of the jointventures, subject to theapproval of farmout by theVietnamese authorities, withNeon r e t a i n i ng a 25%participating interest in eachblock.

Block 105Block 105-110/04 ("Block 105")is located in the central SongHong Basin, offshore Vietnam,covering an area of some 7,192Sq Km in water depths of 20 to80 metres. Although there area number o f s ign i f i cantdiscoveries in the area, Block105 has seen very l i t t leexploration activity, with nowells drilled to date.

Neon acquired a 90% interestas Operator of the Block 105Production Sharing Contract inearly 2010, and subsequentlyfarmed down to KrisEnergy Ltdin order to fund the 2D seismicwork commitment. Neon andKrisEnergy then farmed downto Eni S.p.A. in 2012, in orderto fund a discretionary 3Dseismic programme and thedrilling of the commitmentexploration well.

The 800km2 3D programme wascompleted in mid 2012 and wasdesigned to delineate a specific

well location for the Cua Lo gasprospect; located on the easternside of the block in 80 metresof water. The resulting highquality 3D seismic dataset hasresul ted in an improvedunderstanding of the potentialreservoir and hydrocarbondistribution, leading to theidentification of additionalpotential Miocene/Pliocene payzones. All potential pay zonesare supported by DirectHydrocarbon Indicators (DHIs);se i smic a t t r ibutes o f tenassociated with the presence ofhydrocarbons.

Cua Lo is located some 40 kmsouthwest of the ChineseDongfang gas fields. Both CuaLo and Dongfang are adjacentto an extensive and deephydrocarbon source "kitchen".The main structure at Dongfanghosts reserves of 3.5 TCF gaswithin fine grained Plioceneclastic reservoirs that havequality to those at Dongfang;being coarser grained due to amore proximal location relativeto the M iocene-P l iocenesediment source.

Netherland Sewell & AssociatesInc. (NSAI) completed aP r o s p e c t i v e R e s o u r c eAssessment of Block 105 andconf irmed gross unriskedp rospec t i ve r e cove rab l eresources for Cua Lo of 3.9 TCFgas (best estimate) to 13.9 TCFgas (high estimate). NSAI’sassessment was based upon the2D seismic data that wasavailable at the time, and isbased only on two prospectivezones.

While the areal extent of theprospect remains broadlycomparable to that assessed byNSAI, the identification ofadditional prospective zonesfrom the new 3D seismic volumeprovides scope for the discoveryof additional volumes.

The Cua Lo-1 exploration wellwas spudded on 11 August2013.

Working interests in the blockare as follows:Eni Vietnam BV (Operator):50%Neon Energy (Song Hong) PtyLtd: 25%KrisEnergy (Song Hong 105)Ltd: 25%

Block 120Block 120 is located at thesouthern end of the Song HongBasin, of fshore Vietnam,covering an area of 8,469 SqKm in water depths of 50 to1,100 metres. The block hasseen very little explorationactivity, with only one welldrilled to date, by BHP in 1993.The 120-CS-1X well was drilled on the Triton Horst,immediately east of the QuangNgai Graben. BHP discovered a6 metre oil column and 32metres of oil shows within acarbonate reservoir, with drillinghalted for operational reasonsbefore the planned Total Depthwas reached. This result provesthe presence of a workingpetroleum system within theblock.

Neon acquired a 100% interestas Operator of the Block 120Production Sharing Contract inearly 2009, and subsequentlyfarmed down to KrisEnergy Ltdin order to fund the 2D seismicwork commitment. Neon andKrisEnergy then farmed downto Eni S.p.A. in 2012, in orderto fund a discretionary 3Dseismic programme and thedrilling of the commitmentexploration well.

The 500km2 3D programme wascompleted in mid 2012 and wasdesigned to high-grade severalprospects to facilitate prospectselection for dri l l ing. Theresulting high quality 3D seismicda ta se t ha s b rough t a

Neon Energy Vietnam

s i g n i f i c a n t l y i m p r o v e dunderstanding of the potentialreservoir distr ibution andprobable hydrocarbon migrationpathways, and also helped toidentify an additional prospect.The 3D data also reveals adeeper Oligocene section thanpreviously thought (based onthe 2D seismic), therebyopening up the possibility of agas system being present, inaddition to the proven oilsystem.

The primary prospects are CaNgu, Rua Bien and Ca Lang,with Ca Ngu having beenselected as the target for thefirst exploration well. Ca Nguis prospective for oil and/or gas,and Neon estimates ProspectiveResources for the oil case as181 MMbbls (best case) and 420MMbbls (high case). NetherlandSewell & Associates Inc. (NSAI)completed a Prospect iveResource Assessment of Ca Langand Rua B ien in 2011,confirming gross unriskedp rospec t i ve r e cove rab l eresources respectively for an oilcase of 461 MMbbls and 611MMbbls (best estimate), and1,311 MMbbls and 1,724 MMbbls(high estimate).

Working interests in the blockare as follows:Eni Vietnam BV (Operator):50%Neon Energy (Song Hong) PtyLtd: 25%KrisEnergy (Song Hong 105)Ltd: 25%

Neon Energy Vietnam

ONGC Videsh LimitedVilla-9, Lotus Road, APSC, 36,Thao Dien, Dt-2Ho Chi Minh City, S R Vietnam

Tel: +84-8-35190289/37442609Fax: +84-8-37444309

Contact:A J DuggalVietnam Country ManagerEmail: aj_duggal@ongcvidesh.in

Oil and Natural GasCorporation Ltd.9th Floor, Jeevan Bharti, TowerII,124, Indira Chowk, New Delhi -110 001

Tel: 91 11 2331 4517 / 23301390Fax: 91 11 2331 6413Email: irc@ongc.co.in

Established on 14 August 1956,Oil and Natural Gas CorporationLimited (ONGC) is an Indianstate-owned oil and gas companyheadquartered in Dehradun. TheIndian government currentlyowns 74.14% equity stake in thecompany. ONGC is one of thelargest publicly traded companyin India by market capitalization.

ONGC VideshOVL is the second-largest E&Pcompany in India both in termsof oil production and oil and gasreserve holdings. The primarybusiness of OVL is to prospectfor oil and gas acreages abroadincluding acquisition of oil andgas f i e lds , exp lo ra t i on ,development, product ion,transportation and export of oiland gas. OVL is a wholly-ownedsubsidiary of Oil and Natural GasCorporation Limited.

ONGC Videsh has activities in 16countries including Brazil,Colombia, Cuba, Iran, Iraq,Azerbaijan, Kazakhstan, Libya,Myanmar, Nigeria, Russia, SouthSudan, Sudan, Syria, Venezuelaand Vietnam.

Vietnam operations

Block 06.1Block 06.1 is an offshore Blocklocated 370 km south–east ofVung Tau on the southernVietnamese coast with an areaof 955 sq km. The explorationLicense for Block 06.1 wasacquired by OVL in 1988. Aftersubsequent assignments andtransfers of PI between theparties to Block 06.1 and PetroVietnam, the present holdings ofPIs with effect from 17th October2011 are ONGC Videsh 45%, TNKVietnam B.V. 35% (Operator)and Petro Vietnam 20%. Lan Tayfield in the Block has beendeveloped and the field startedcommercial production inJanuary, 2003. OVL’s share ofproduction from the project was2.023 BCM of gas and 0.036 MMT

of condensate during 2011-12 ascompared to 2.249 BCM of gasand 0.038 MMT of condensateduring 2010-11. Wells Lan Do-2P and Lan Do-1P have beendrilled and completed between14th January, 2012 to 18th April,2012.

Block 127Block 127 was relinquished aftercompleting the work programme.

Blocks 102/10 and 06/10In October 2014, ONGC Videshsigned an agreement to pick upto 50 per cent stake inPetroVietnam’s two explorationblocks in the South China Sea.

OVL will take 40 per cent stakein Block 102/10 and 50 per centin 106/10 that lie outside the seaterritory claimed by China.PetroVietnam, the national oilcompany of Vietnam, will takehalf of OVL’s 100 per cent stakein Block 128 in South China Seawhich the Indian firm had earlierplanned to exit.

ONGC Videsh Vietnam

Origin EnergyUnit 6 & 7, 16th Floor, VincomCentre,72 Le Thanh Ton St, District 1Ho Chi Minh CityVietnam

Key personnel:

Jenny BauerExploration Manager, VietnamE.jenny.bauer@originenergy.com.au

Origin Energy LtdSydney - head officeLevel 45, Australia Square264 - 278 George StreetSydney NSW 2000

Tel: (02) 8345 5000Fax: (02) 9252 9244

Exploration & productionCoronation Drive Business Park135 Coronation DriveMilton Qld 4064

Tel: (07) 3858 0600Fax: (07) 3369 7840

Origin Energy (ASX: ORG) is theleading Australian integratedenergy company focused on gasand o i l exp lorat ion andproduction, power generation andenergy retailing. A member ofthe S&P/ASX 20 Index, thecompany has more than 5,800employees and is a leadingproducer of gas in easternAustralia.

Origin is Australia's largest energyretailer servicing 4.3 millionelectricity, natural gas and LPGcustomer accounts and has thecountry's largest and one of themost flexible generation portfolioswith approximately 5,900 MW ofcapacity, through either ownedgeneration or contracted rights.Origin's strategic positioning andportfolio of assets provideflexibility, stability and significantopportunities for growth acrossthe energy industry. ThroughAustral ia Pacif ic LNG, itsincorporated joint venture withConocoPhillips and Sinopec,Origin is developing one ofAustralia's largest CSG to LNGprojects based on Australia’slargest 2P CSG reserves base.

In New Zealand, Origin is themajor shareholder in ContactEnergy, the country's leadingintegrated energy company,operating geothermal, thermaland hydro generation facilitiesand servicing electricity, gas andLPG customers across both theNorth and South islands. Originalso operates several oil and gasprojects in New Zealand and isone of the largest holders ofpetroleum exploration acreagein the country.

Origin has a strong focus onensuring the sustainability of itsoperations, is the largest greenenergy retailer in Australia andhas significant investments inrenewable energy technologies.

In December 2009, Originacquired interests in a diverse

south-east Asian explorationportfolio. The company reachedagreement with respect to afarm-in arrangement withSalamander Energy plc, to takeinterests in a portfolio of fiveexploration blocks operated bySalamander across NortheastThailand, Lao PDR and Vietnam.

Vietnam operations

In July 2012, Pan PacificPetroleum's wholly ownedsubsidiary of Pan Pacif icPetroleum, Pan Pacific PetroleumV ie tnam (121) P ty L td('PPPV121'), entered into anagreement with Origin Energy toacquire a 15% interest in theBlock 121 Production SharingContract, offshore, Vietnam.

The 121-CV-1X exploartion wellwas drilled in August 2013. Thewell, which was targeting thelarge Whale (Ca Voi) prospect,found sandstones in the mainobjective sequence prognosed asof Oligocene age, but nohydrocarbons were discovered.

Participating interests in Block121 are: Origin Energy (SongHong) Pte. Ltd 45%, Premier OilVietnam 121 Ltd 40% and PanPacific Petroleum Vietnam (121)Pty Ltd 15%.

In October 2015, the Block 121Joint Venture parties announcedthey were withdrawing from thelicence following the unsuccessfuldrilling of the Whale prospect(121-CV-1X) and the inabilityover the last 12 months to securea farmin partner to share thecosts and risk of drilling anadditional well in the licence.

Origin Energy Vietnam

Pan Pacific Petroleum NLLevel 2123 Walker StreetNorth Sydney NSW 2060

Tel: + 61 2 9957 2177Fax: + 61 2 9925 0564

Pan Pacific Petroleum NL, (PPP)is an ASX and NZX listed oil andgas exploration and productioncompany participating in non-operated interests in New Zealand(including production from theTui Area Fields), Australia,Vietnam and Timor Leste-Austral ia Joint PetroleumDevelopment Area.

PPP’s main asset comprises a10% interest in Tui Area oilproject in the offshore TaranakiBasin, New Zealand whichcommenced oil production in July2007.

Vietnam operations

Block 07/03Location: Offshore Nam Con SonBasinPPP equity: 5% through whollyowned subsidiary Pan PacificPetroleum (Vietnam) Pty LtdOperator: Premier 30%Other partners: VietnamAmerican Exploration Company,LLC 25% (a wholly-ownedsubsidiary of Pitkin PetroleumPlc), PearlOil (Ophiolite) Ltd 25%(a wholly owned subsidiary ofMubadala), and PetroVietnamExploration and ProductionCorporation 15%.Awarded: 1999Area: 3932 km2

Early in July 2010, PPP VietnamPty Limited (PPPV), a whollyowned subsidiary of theCompany, received the requisiteapprovals to acquire a 5%interest in the Block 07/03Production Sharing Contract fromPremier Oil Vietnam South BV(Premier). Under the terms ofthe original farmout agreement,PPPV agreed to acquire a 15%equity in Block 07/03 subject toPetroVietnam and VietnameseG ove r n m e n t a p p r ova l s .PetroVietnam subsequentlyexercised its right of pre-emptionto the extent of 10% of theproposed 15% farmout interest.

Block 07/03 is located in theprospective Nam Con Son Basin,adjacent to block 12W whichcontains the Chim Sao and DuaOil Fields (59 MMbbls oil and 16MMboe gas), also operated byPremier. Chim Sao developmentis now on production. Gas (2 Tcf)has been discovered by BP in theLan Tay and Lan Do Fields inBlock 06-1 to the north. Thesegas fields have been developedas part of the Nam Con Son GasProject, an integrated gas-to-power project that deliversnatural gas supplies from theoffshore fields via a 370kmsubsea pipeline.

The main objective in Block 07/03is oil in Miocene sandstonereservoirs in fault traps.

The Company participated in thefirst commitment exploration well,Cá Rong Ðo, CRD-1X , which wascompleted in June 2009. The wellencountered both oil and gas paywithin multiple stacked reservoirlayers in Miocene and Oligocenesands. Two of these reservoirzones in the Miocene section weretested and flowed oil at acombined rate of 3,265.4 bbls ofoil per day plus 8.1 MMscf of gasper day, through a 48/64” choke.No water was produced fromeither zone. It was not possibleto flow test the Oligocene sandsat that time.

The second commitmentexploration well, Cá Rong VàngCRV-1X, spudded in November2009 did not encounter anysignificant hydrocarbons, and thewell was plugged and abandonedas planned. Cá Rong Vàng welldid, however, provide importantpressure data which has beenused in assessing the CRDdiscovery.

The Cá Rong Ðo discovery of2009 was further delineated inearly 2011 by the drilling of theCRD-2X appraisal well whichevaluated the Oligocene sands

Pan Pacific Petroleum Vietnam

Source: EKF

a n d f o u n d 7 2 m n e tcondensate/gas pay, a significantincrease compared with the 17mof net pay found in the Oligocenesection in the up dip CRD-1X well.Two zones were tested and thefirst zone tested flowed gas andcondensate at rates of 9.7MMsc f /d and 870 bopdrespectively through a 40/64”choke. The second zone testedflowed gas and condensate atrates of 17 MMscf/d and 1730bopd respectively through a56/64” choke. CRD-2X wassubsequently sidetracked tofurther evaluate the distributionof hydrocarbons in the Mioceneand intersected 18.3m of net oilpay in the Miocene sands. Thiscompares with 34.4m of net oilpay found in the Miocene sectionin the up dip CRD-1X well, and3.8m in the down dip CRD-2Xwell.

The Operator’s preliminaryestimate of the range ofpotentially recoverable oilresources in the CRD structure(low-mid-high) is 20-40-65MMbbls gross. However, furtherwork will be required to confirmthese numbers, and to assessthe potential of gas resourceswhich are also contained in thestructure.

The venture is in the secondexploration period of theProduction Sharing Contract andwill require the drilling of oneremaining commitment wildcatexploration well before endNovember 2013. A 20%relinquishment was undertakenat the end of the first explorationperiod.

Joint Venture PartnersSurrender Block 121In October 2015, the Block 121Joint Venture parties announcedthey were withdrawing from thelicence following the unsuccessfuldrilling of the Whale prospect(121-CV-1X) and the inabilityover the last 12 months to securea farmin partner to share thecosts and risk of drilling anadditional well in the licence.

Participating interests in Block121 are:Pan Pacific Petroleum NL (viasubsidiaries) 15%Origin (via subsidiaries) 45%(operator)Premier Oil (via subsidiaries) 40%

Pan Pacific Petroleum Vietnam

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Block 105-110/04

Block 111/04

Block 112

Block 114

Block 113

Block 115

Block 116 Block 117

Block 118

Block 119

Block 120

Block 121

Source: EKF

VIETNAM#911, Diamond Plaza,34 Le Duan Street, District 1Ho Chi Minh City

Perenco7 rue de Logelbach75017 Paris

Tel: +33 (0)1 53 57 66 00Fax: +33 (0)1 47 20 38 43

Perenco is an independent oil &gas company with operations in16 countries across the globe,ranging from Northern Europe toAfrica and from South Americato the Middle East. Perenco isinvolved in operations bothonshore and offshore andemploys more than 4,000 peopleworldwide.

Vietnam operations

Perenco owns three subsidiariesin Vietnam. The subsidiaries holda 23.25 percent participatinginterest in Block 15-1, a 36percent participating interest inBlock 15-2 and a 16.3 percentparticipating interest in the NamCon Son Pipeline.

Those stakes were previouslyowned by ConocoPhillips. Grossproduction is around 75,000bopd.

Located 160 miles offshoresoutheast of Ho-Chi-Minh City,Block 15-1 is in the Cuu LongBasin. Production from its Su TuDen Field began in late 2003. SuTu Den crude oil is processed and

stored in the 1-million-barrel CuuLong Thai Binh FPSO vessel.Production from the Su Tu VangField began in 2008. Firstproduction on the Su Tu DenNortheast Field occurred in May2010.

Block 15-2 contains the RangDong Field also in the Cuu LongBasin. Rang Dong crude oil isstored in the MV-17 FSO, whereit is offloaded to tankers forexport.

The Nam Con Son Pipeline isa 700-MMCFD, 244-mi letransportation system linkingnatural gas supplies from theNam Con Son Basin to marketsin southern Vietnam. Theinfrastructure consists of a 26-inch diameter, 227-mile offshorepipeline segment delivering wetgas to the gas plant located atDinh Co, Ba Ria-Vung Tauprovince. The gas is conditionedto meet sales specifications andis redelivered via a 30-inch-diameter, 17-mile onshorepipeline segment to the Phu Mygas distribution center.

Perenco Vietnam

Vung Tau

Ho Chi Minh

SU TU DEN AURORA

RANG DONG

BACH HO

RONG

01

15-1V I E T N A M

15-2

16-2

16-109

Location of Blocks 15-1 and 15-2

PC Vietnam LimitedPETRONAS Tower, Royal Center235 Nguyen Van Cu St., Dist 1,Ho Chi Minh CityVietnam

Tel: 848 3830 9966Fax: 848 3830 9988

Petroliam Nasional Berhad(Petronas)Tower 1, PETRONAS Twin TowersKuala Lumpur City Centre50088 Kuala Lumpur, Malaysia

Tel : 603 2051 5000 / 2026 5000Fax : 603 2026 5050 / 5055

PETRONAS is the national oil andgas company of Malaysia and iswholly-owned by the Governmentof Malaysia. Together with itssubsidiaries and associatedcompanies, PETRONAS, aFORTUNE Global 500® company,has fully integrated oil and gasoperations in a broad spectrumof the oil and gas value-chain.Its business activities include (i)the exploration, development andproduction of crude oil andnatural gas in Malaysia andoverseas; (ii) the liquefaction,sale and transportation of LNG;( i i i ) the process ing andtransmission of natural gas andthe sale of natural gas products;(iv) the refining and marketingof petroleum products; (v) themanufacture and sale ofpetrochemical products; (vi) thetrading of crude oil, petroleumproducts and petrochemicalproducts; and (vii) shipping andlogistics relating to LNG, crudeoil and petroleum products.

Vietnam operations

I n N o v e m b e r 2 0 1 4 ,SapuraKencana Petroleum signedSale and Purchase Agreements(SPA) to acquire the entireinterest of Malaysia's national oilcompany Petroliam NasionalBerhad (Petronas) in three blocksoffshore southern Vietnam for$400 million after an internationalbidding process.

The three shallow water upstreamassets are Blocks 01/97 & 02/97,Blocks 10 & 11.1 and Block 46-CN, with Jan. 1 being theeconomic effective date of thet r a n s a c t i o n , e n a b l i n gSapuraKencana to net revenuesfrom these blocks.

Petronas Vietnam

Vietnam National Oil and GasGroup18 Lang Ha StreetBa Dinh, HanoiVietnam

Tel: (84-4)38252526Fax: (84-4)38265942

Petrovietnam (PVN) is the largestVietnamese company. It is a Stateenterprise set up by theVietnamese Government toconduct petroleum activities andsign petroleum contracts withorganizations or individualsconducting petroleum activitiesin Vietnam. Its earnings accountfor about twenty five per cent ofthe revenue for the nationalbudget.

The Chairman of PVN is amember of the Central ExecutiveCommittee of Communist Partyof Vietnam and the GeneralDirector (CEO) is appointed byPVN Members’ Council with thePrime Minister’s approval.

Its subsidiaries cover manyupstream and downstreamactivities. It has some featuresthat are common to many largeSOEs in Vietnam. It is based inHanoi, even though all the oil isin the south of the country, andit has branched into otherindustries including construction,real estate, transport, banking,shipbuilding, insurance andeducation.

The oil side of the business is runby Petrovietnam Oil Corporation(PV Oil) and the gas side byPetrovietnam Gas Joint StockCompany (PV Gas). PV Oil is thesole buyer of crude oil in Vietnam.It then sells part of it to the DungQuat refinery.

Other important group companiesinclude Petrovietnam FinanceJoint Stock Company (PVFC),Dung Quat Oil Refinery No 1,Petrovietnam Explorat ionProduction Corporation (PVEP),Petrovietnam Drilling and WellServices Joint Stock Company(PV Drilling), Petrovietnam PowerCorporation (PV Power) andPetrovietnam Technical ServicesJoint Stock Corporations (PTSC).PVN plans to develop its oilinvestments outside Vietnam,which currently include Russia,

Peru, Venezuela, Indonesia,Malaysia, Laos, Cambodia, Cuba,Madagascar, Iraq, Tunisia, Congo,and Algeria.

Vietnam operations

Petrovietnam has recently signedsix new petroleum contracts ofb l o ck s 05 - 2 /10 (w i t hPVEP/Talisman), 148-149 (withPVEP), 135-136/03 (withPVEP/Talisman/Pearl), 45 (withMitra/PVEP), 102&106/10 (withPVEP) and 13/03 (w i thSantos/PVEP), increasing thenumber of effective contracts to60.

DiscoveryIn October 2015, the jointventure of Zarubezhneft andPetrovietnam Vietsovpetro madea commercial discovery of theSturgeon field offshore SocialistRepublic of Vietnam.

It has happened as a result ofthe successful testing of theexploration well CT-3X Block09/3-12 which achieved a dry oilfree flow to surface from theproductive horizons of more than1 800 tons per day.

The Sturgeon (Ca Tam) field wasdiscovered in 2014 in course ofthe exploration well 2-X testing.The field is located within theBlock 09/3-12. The oil reservescalculation shall be made and adesign project for bringing thefield into development shall beprepared basing on the resultsof the commercial discovery.

Petrovietnam Vietnam

Petrovietnam Vietnam

Oil producing fields

Contract Block Operator Year of Production

Bach Ho (White Tiger) 09-1 VSP 1986Rong (Dragon) 09-1 VSP 1994Dai Hung(Big Bear) 05-1a PVEP POC 1994Block (overlapping area between Vietnamand Malaysia with 50% interest of Vietnam) PM3-CAA PM3 CAATML 1997Rang Dong 15-2 JVPC 1998Ruby 01&02 PCVL 1998Block 46-CN 46 CNTML 1999Su Tu Den (Black Lion) 15-1 CLJOC 2003Cendor PM-304 (Malaysia) Petrofac 2006Su Tu Vang 15-1 CLJOC 2008Song Doc 46/02 TSJOC 2008Ca Ngu Vang 09-2 HVJOC 2008Phuong Dong 15-2 JVPC 2008Nam Rong - Doi Moi 09-3 VRJ/VSP 2010Pearl 01&02 PCVL 2010Topaz 01&02 PCVL 2010Su Tu Den Dong Bac 15-1 CLJOC 2010D30 SK350 (Malaysia) PCPP 2010North Khoseidaien Nhenhexky (Russian

Federation) Rusvietpetro 2010Dana SK350 (Malaysia) PCPP 2011Visovoi Nhenhesky (Russian

Federation) Rusvietpetro 2011Te Giac Trang 16-1 HLJOC 2011Chim Sao 12W POVO 2011Western Khoseidaien Nhenhexky (Russian

Federation) Rusvietpetro 2012Junin-2 (Venezuela) “PetroMacareo” 2012Su Tu Trang 15-1 CLJOC 2012

Petrovietnam Vietnam

Gas producing fields

Contract Block Contractor Year

Tien Hai C (Natural gas) Song Hong basin PVEP SH 1981Bach Ho & Rong (Associated gas) 09-1 VSP 1995Rang Dong (Associated gas) 15-2 JVPC 2001Lan Tay (Natural gas) 06.1 TNK Vietnam 2002East Bunga Kekwa – Cai Nuoc(Natural and associated gas) PM3-CAA & 46-CN TML&TVL 2003West Bunga Kekwa(Natural and associated gas) PM3-CAA TML 2003Bunga Raya PM3-CAA TML 2003Bunga Seroja (Natural gas) PM3-CAA TML 2003D14 & Song Tra Ly (Natural gas) Song Hong basin PVEP SH 2004Rong Doi/West Rong Doi (Natural gas) 11-2 KNOC 2006Bunga Tulip (Associated gas) PM3-CAA TML 2006Phuong Dong (Associated gas) 15-2 JVPC 2008Ca Ngu Vang (Associated gas) 09-2 HVJOC 2008Bunga Orkid (Natural gas) PM3-CAA TML 2008Su Tu Den/Su Tu Vang Northeast Su Tu Den(Associated gas) 15-1 CLJOC 2009D30 (Malaysia) SK305 PCPP 2009Dana (Malaysia) SK305 PCPP 2010Te Giac Trang (Associated gas) 16-1 HLJOC 2011Chim Sao (Associated gas) 12W POVO 2011Lan Do 06-1 TNK Vietnam 2012

Source: EKF

Premier Oil plc23 Lower Belgrave StreetLondon. SW1W 0NR England

Tel: +44 (0)20 7730 1111Email: premier@premier-oil.com

Premier Oil Vietnam OffshoreBV18/F, Kumho Asiana Plaza SaigonNo. 39 Le Duan Street, Ward BenNghe, District 1Ho Chi Minh City, S.R. Vietnam

Tel: +84 8 3910 5788

Contact:

Stephen Carney,Principal Development GeologistPremier Oil Vietnam Offshore BV

Nick Comrie-SmithNew Ventures ManagerPremier Oil Far East Limited

Premier Oil plc (Premier) is aleading FTSE 250 independentexploration and productioncompany with interests in theNorth Sea, South East Asia, Africa,Pakistan, Iraq, Brazil and theFalkland Islands. The company’sstrategy is to add significant valuefor its stakeholders throughexploration and appraisal success,optimal asset management anddevelopment, and astutecommercial deals.

Premier is building a rapidlygrowing business. In 2005, thecompany was producing around30,000 barrels of oil equivalentper day (boepd) and was targetingdoubling the size of the business.

The company had a 2P reservebase of around 175 million barrelsof oil equivalent (mmboe). Today,Premier is producing around60,000 boepd from a reserve andresource base in excess of 700mmboe and is on track to achieveits corporate goal of being a100,000 boepd producer in themedium term.

In the first half of 2014,production averaged 64.9 kboepd(2013: 58.6 kboepd), up 11 percent and ahead of guidance; newproduction from Dua (Vietnam),Kyle (UK) and the gas swap(Indonesia).

Vietnam operations

Premier has explorat ion,development and productionactivities across two licences inVietnam. The company'sVietnamese interests includes thePremier-operated Chim Sao fieldwhich Premier brought onstreamin the second half of 2012, theDua project, which will bedeveloped as subsea tie back toChim Sao, and Ca Rong Doh, afuture development project. Inaddition, Premier continue toexplore across their existingacreage and notable successesinclude the Chim Sao North Westdiscovery and the successfulappraisal of CRD in 2011.

Chim Sao (53.13% operatedinterest)Premier acquired a 75% interestin Block 12W located in the NamCon Son Basin from Delek EnergySystems Limited (Delek) in 2004,and subsequently farmed-outpart of its interest to SantosLimited leaving a 37.5% operatedinterest. In 2009, Premieracquired Delek's remaining 25%interest in Block 12W andPetroVietnam subsequentlyexercised its back-in-right toacquire a 15% interest.

The area has similar geology tothe West Natuna Sea area,approximately 300 kilometres tothe south west. Premierannounced two discoveries – Duaand Chim Sáo – on the block in2006. Dua was appraised followingthe discovery while Chim Sáo wassuccessfully appraised in 2008.

A field development plan for ChimSáo was submitted to the

Premier Oil Vietnam

Gul f o f Tha i land

CAMBODIA

Block 12W

Block121

VIETN

AM

S o u t hC h i n a

S

e a

Ho Chi Minh

Location of Blocks 121 and 12W

Vietnamese Government andapproved in 2008. First oilproduction from Chim Sáo wasachieved in October 2011 and thefield is currently producing25,000-30,000 bopd while gasproduction is approximately 25mmcfd. Meanwhile Dua, a subseatie-back to Chim Sáo, wassuccessfully completed in July2013. The field is capable ofproducing 8-10 kbopd gross andwill extend the production fromBlock 12W and field life out to2023.

Ca Rong Doh (30% operatedinterest)Premier exercised their option toacquire an equity interest in Block07/03 from Vietnam AmericanExploration Inc. (VAMEX) inDecember 2006. Block 07/03 islocated in the Nam Con Son Basin.It lies on a trend of oil and gasdiscoveries directly south of BP'sproducing gas fields (Lan Tay andLan No) and immediately to thesouth east of their producing ChimSao field.

In 2009, the CRD exploration well(07-CRD-1X) on Block 07/03intersected approximately 90metres net oil and gas pay withinmultiple stacked reservoir layers.In April 2011, Premier appraisedthe exploration success at CRD inBlock 07/03. Two drill stem testsof hydrocarbon bearing sands inthe Oligocene section wereconducted. The first zone testedflowed gas and condensate at

rates of 9.7 million mmscfd and870 bopd respectively through a40/64 inch choke, and the secondzone tested flowed gas andcondensate at rates of 17 mmscfdand 1,730 bopd respectivelythrough a 56/64 inch choke. Thewell was sidetracked to furtherevaluate the distribution ofhydrocarbons in the Miocenesands.

ProductionIn 2014, production from Block12W, which contains the ChimSáo and Dua fields, exceededexpectations averaging 16.9kboepd (13.7 kbopd of oil and15.4 mmscfd of gas) net toPremier, up 19.9 per cent on2013.

The Premier-operated Chim Sáofield out-performed expectationsin 2014 as the companycontinued to maximise productiondelivery and to improve thereliability of the facilities. Thesubsea tie-back of the Dua fieldwas completed successfully inJu ly, ex tend ing p la teauproduction and the field life ofChim Sáo.

Joint Venture PartnersSurrender Block 121In October 2015, the Block 121Joint Venture parties announcedthey were withdrawing from thelicence following the unsuccessfuldrilling of the Whale prospect(121-CV-1X) and the inabilityover the last 12 months to securea farmin partner to share the

costs and risk of drilling anadditional well in the licence.

Participating interests in Block121:Pan Pacific Petroleum NL (viasubsidiaries) 15%Origin (via subsidiaries) 45%(operator)Premier Oil (via subsidiaries) 40%

Premier Oil Vietnam

Premier Global Production (W.I.)(thousand boepd)

1 January – 1 January -30 April 2015 30 April 2014

Indonesia 13.2 14.2Pakistan & Mauritania 10.9 14.1UK 16.1 20.4Vietnam 20.0 17.1Total 60.2 65.8

Quad Energy S.A.12th FloorOSIC Building8 Nguyen Hue StreetDist. 1Ho Chi Minh City,Vietnam

Tel: 84 8 3827 4328Fax: 84 8 3827 4327

Quad Energy S.A. engages inoffshore oil exploration and alsoprovides petroleum products. Thecompany is based in Ho Chi MinhCity, Vietnam.

Quad Energy SA is Operator ofBlock MVHN-02 at Song HongBasin offshore Vietnam with 100%stake. In addition, Quad EnergySA signed a PSC with Con SonJOC for the Block 10 & 11-1 atNam Con Son Basin with a 10%stake.

Quad Energy Vietnam

OAO Rosneft OilCompany26/1 SofiyskayaEmbankment 1GSP-8117997 MoscowRussia

Tel: +7-495-777-4422Fax: +7-495-777-4444

Oil and gas company, State oilcompany Rosneft is the leader ofRussia’s petroleum industry, andranks among the world’s toppublicly traded oil and gascompanies. The Company isprimarily engaged in explorationand production of hydrocarbons,production of petroleum productsand petrochemicals, andmarketing of outputs. Rosnefthas been included in the RussianGovernment’s List of StrategicEnterprises and Organizations.The state holds 75.16% in theCompany (through OJSCR O S N E F T E G A Z ) , w h i l eapproximately 15% of shares arein free-float.

Vietnam operations

In June 2015, Chevron closed thesale of its stake in explorationblocks and a pipeline project inVietnam to PetroVietnam, for anundisclosed sum. The moverepresents Chevron's exit fromVietnam's upstream oil and gassector, as the oil major trims itsglobal portfolio.

Chevron said it has sold its stakein two production sharingcontracts in Vietnam, whichincludes a 42.4% interest in BlocksB and 48/95, and a 43.4% interestin Block 52/97. It has also soldits 28.7% non-operated workinginterest in a pipeline project tosupply natural gas to utilities insouthern Vietnam.

PetroVietnam had said in April itwould resume work at Block B inJune, after taking over fromChevron. It said the block isexpected to produce 13.9 millioncubic meters of gas and between6,000 and 7,000 barrels ofcondensate a day. It expectedfirst gas output to be broughtonshore by 2019 or 2020.

Block 06.1Rosneft Vietnam owns 35% inthe project, acting as the projectoperator; the project is beingimplemented based on the

Production Sharing Contract(PSC). The PSC area comprisestwo gas condensate fields – LanTay and Lan Do. The fields arelocated 370 km from the shorein the Nam Con Son basin, thesea depth at the fields reaches190 m. The initial gas reservesat the fields are about 68 billioncubic meters. By June 2015,accumulated production fromBlock 06.1 reached 300 millionbarrels of oil equivalent (or over46 bcm of gas).

Block 05-3/11Rosneft Vietnam owns 100% inthe project and is the projectoperator. The licensed block islocated in the region with provenhydrocarbon potential and well-developed infrastructure that alsoborders with the already operatedfields of Block 06.1. The currentestimate of Block 05.3/11reserves is 40 billion cubic metersof gas and 9 million tons of gascondensate. 3D-seismic surveyof 1,180 sq kms and subsequentinterpretation and studies havebeen completed, structures forexploration drilling activities in2016 were defined.

Rosneft is also an investor with32.67% equity in the Nam ConSon Pipeline – transporting gasand condensate from fouroffshore blocks in the Nam ConSon basin to power complexonshore –which creates apotential synergy in the event ofdiscovery of commercial reservesin Block 05-3/11.

In September 2015, RosneftVietnam and Japan Drilling Co(JDC) represented by itssubsidiary Hakuryu 5, Inc. signedan agreement on provision andoperation of the marine drillingrig HAKURYU-5, for the purposesof drilling exploration wells withinthe framework of Rosneft’sprojects in Vietnam. It is plannedto drill two wells in Blocks 06.1and 05-3/11 in the Nam Con Sonbasin offshore Vietnam in 2016.

Rosneft Vietnam

HanoiSantos Vietnam Pty LtdSuite 701 Level 739 A Ngo QuyenHanoi Vietnam

Tel: 84 4 2220 6000Fax: 84 4 2220 6002

Brisbane - Head OfficeSantos LtdLevel 22 Santos Place32 Turbot StreetBrisbaneQueensland 4000

Tel: 61 7 3838 3000Fax: 61 7 3838 3700

Contact:

Martyn EamesVice President Asia-Pacific

Santos is Australia's largestdomestic gas producer, supplyingsales gas to all mainlandAustralian states and territories,ethane to Sydney, and oil andl iqu ids to domest ic andinternational customers. Thecompany's core business wasbuilt on gas and oil discoveriesi n t h e C o o p e r B a s i n ,predominantly spanning north-east South Australia and south-west Queensland. These gasreserves are the main source ofnatural gas to Australia's easternstates. Santos is the primaryventure partner, and operator, ofnatural gas processing facilitiesat Moomba (in South Australia)and Ballera (in Queensland), andpipelines connecting thosefacilities with Adelaide, Sydney,M e l b o u r n e , B r i s b a n e ,Rockhampton, and Mount Isa.

The company also participates inon and offshore oil and gasexploration and productionventures throughout Australia,in the Timor Gap, Indonesia,Papua New Guinea, India,Bangladesh, Vietnam, and KyrgyzRepublic.

Vietnam operations

Vietnam has been an importantpart of Santos’ Asia strategy since2006, when Santos entered theBlock 12W in the Nam Con SonBasin off the country's southcoast.

Oil has been produced from theChim Sáo field in Block 12W sinceOctober 2011, accounting for 6%of Santos’ production in 2012.Building on the success of ChimSao, the Dua oil project is beingdeveloped as a tie-back to thefacilities at Chim Sáo, and is ontrack for first oil in the first halfof 2014.

Santos continues to build itsVietnam business in line with itsAsia strategy, with an activeexploration program underway

in the offshore Nam Con Son andPhu Khanh basins.

PRODUCING ASSETS

Chim Sáo

Location: Block 12W permit, NamCon Son Basin.Joint venture participants: Santos(31 .875%), P remier O i l(53.125% and operator),PetroVietnam (15%).

Facility details:The Chim Sáo project includes asingle wellhead platform and afloating, processing, storage andoff loading (FPSO) vessel.Hydrocarbon processing takesplace on the Lewek Emas FPSOwith the oil exported on crudeofftake tankers and the gas bysubsea pipeline into existing gasinfrastructure. The gas will beused for power generation tomeet domest i c demand.

Production:Oil production commenced inOctober 2011 and gas productionin 2012. In 2012, Santos’ shareof Chim Sáo production was 2.9million barrels of oil and 2.1petajoules of gas.

Dua (Santos 31.875%)

The Dua oil project is located inBlock 12W in the Nam Con SonBasin, offshore southern Vietnam.The project was sanctioned inAugust 2012 and involves thedevelopment of a three-wellsubsea tie-back to the existingChim Sáo facilities.

First oil from Dua oil projectIn July 2014, Santos announcedthat oil production commencedfrom the Dua oil project, offshoreVietnam.

The gross production rate fromthe Dua wells is estimated toaverage 8,000 barrels per dayfor the first 12 months ofproduction. Sufficient oil and gas

Santos Vietnam

handling capacity is available onthe Ch im Sáo FPSO toaccommodate both Chim Sáo andDua at full production.

Santos has a 31.875% interestin the Dua project, with partnersPremier Oil (operator) andPetroVietnam holding theremainder.

EXPLORATION

Nam Con Son BasinSantos has a 65% operatedinterest in Block 13/03, whichcontains the Hon Khoai and HonSao oil prospects. Following theacquisition of 3D seismic surveydata in 2012, Santos and itspartners are planning to drill theHon Khoai exploration well in2014.

Phu Khanh BasinSantos has a 50% operatedequity interest in Block 123 inthe Phu Khanh Basin, offshoreVietnam, and drilled its firstexploration well in 2011, whichwas a non-commercial gasdiscovery. Santos and its partnerscompleted a 564 square kilometre3D seismic survey in June 2012to evaluate the remainingprospects in Block 123, with anexploration well planned to bedrilled in 2014.

PERMITS

Nam Con Son Basin permitsSantos interest (%)Block 12W: 31.875Block 13/03: 65 and operator

Phu Khanh Basin permitsSantos interest (%)Block 123: 50 and operator

Santos Vietnam

SapuraKencana PetroleumBerhadLevel 6, Menara SapuraKencanaPetroleumSolaris Dutamas, 1 JalanDutamas 150480 Kuala LumpurMalaysia

Tel : (6)03-6209 8000Fax : (6)03-6209 3800

SapuraKencana PetroleumBerhad (SapuraKencana) is a full-fledged upstream player and oneof the world’s largest integratedoil and gas services and solutionsproviders. SapuraKencana’s fullspectrum of capabilities coversthe entire value chain ofexploration, development,production, rejuvenation, andd e c o m m i s s i o n i n g a n da b a n d o n m e n t . W i t h amu l t i na t i ona l wo rk f o r cecomprising 51 nationalities ando v e r 1 3 , 0 0 0 p e o p l e ,comprehensive world-class assetsand project managementcapabilities, the Group’s globalpresence can be seen in over 20countries including Malaysia,China, Australia, Brazil, the UnitedStates of America, as well asthose in Western Africa, and theMiddle East.

Vietnam operations

AcquisitionI n N o v e m b e r 2 0 1 4 ,SapuraKencana Petroleumannounced it was buying stateoil firm PETRONAS' entire interestin 3 blocks offshore southernVietnam for $400 million.Theeconomic effective date of thetransaction is Jan. 1, 2014 andSapuraKencana is entitled to netrevenue from these blocks fromthen.

Blocks being acquired are:Petroleum Contract for Blocks01/97 and 02/97, Cuu Long Basin(50% interest); ProductionSharing Contract for Blocks 10 &11.1, Nam Con Son Basin (40%);Production Sharing Contract forBlock 46 - Cai Nuoc, Malay - ThoChu Basin (36.845966%).

SapuraKencana Vietnam

Singapore PetroleumCompany LimitedOne Temasek Avenue #27-00Millenia Tower, Singapore 039192

Tel: 65-6276 6006Fax: 65-6275 6006

SPC E&P (China) Pte. Ltd.17C/D, Times Plaza, Taizi Road,Shekou, Shenzhen, ChinaZip Code: 518067

Tel: 86-755-2683 0955Fax: 86-755-2668 9490

SPC Mahakam Hilir Pte. Ltd.Menara Global 25th FloorJln. Jenderal Gatot SubrotoKav.27Jakarta 12950, Indonesia

Tel: 62-21 5275871Fax: 62-21 5275873

Founded in 1969, SingaporePetroleum Company (SPC) wasestabl ished to spearheadSingapore’s development as arefining centre. With progressiveinvestments and expansion, SPCis today a regional oil and gascompany with interest in oil andgas exploration and production,refining, terminall ing anddistribution, marketing andtrading of crude and refinedpetroleum products.

In 2000, SPC repositioned itsbusiness to create sustainablelong-term growth.

It started upstream investmentsin Exploration and Production.

Today, SPC has 7 ProductionSharing Contracts (PSCs) andthree gas pipelines in the Asia-Pacific region.

In Vietnam the company holds a20% interest in bolcks 102 and106 in the Song Hong Basin

Pipeline InvestmentsSPC holds interests in threeregional gas transmissionpipelines. The 654-kilometre WestNatuna Transportation System isthe first Singapore cross bordersub-sea gas pipeline carrying gasfrom the West Natuna Sea toSingapore. A consortium of PSCblocks in West Natuna includingthe Kakap PSC owns this pipeline.

The 468-kilometre Grissik-Batam-Singapore Pipeline is the seconddirect gas pipeline transmittinggas from Indonesia to Singapore.Gas to Singapore commenced in2003 under a 20-year termcontract between Singapore andIndonesia. The 536-kilometreGrissik-Duri Pipeline is a trunkline that transmits gas from theGrissik gas fields to Caltex's Durifaci l it ies under long-termcontracts that commenced in1998.

Singapore Petroleum Vietnam

Source: Singapore Petroleum

Overview of E&P operations

Asset Location Acquired Area km2 W.I. Operator

East Kalimantan, Mahakam Indonesia Nov-08 222.14 60.0% SPCHilir PSC

Bohai Bay, Block 04/36 China Oct-07 225 8.91% CNOOC

Bohai Bay, Block 05/36 China Oct-07 225 7.82% CNOOC

Khmer Basin, Block B Cambodia Aug-05 6,560 33.3% PTTEP

Offshore East Java, Indonesia Jul-04 535.5 40.0% SantosSampang PSC

Oyong oil field Indonesia Jul-04 535.5 40.0% Santos

Oyong gas field Indonesia Jul-04 535.5 40.0% Santos

Jeruk oil field Indonesia Jul-04 535.5 21.8% Santos

Song Hong Basin, Blocks Vietnam Apr-04 224.54 22.86% Petronas102 and 106

West Natuna Sea, Kakap PSC Indonesia Jun-00 2,006 15.0% Star Energy

Source: EKF

SK Innovation Co., Ltd.26 Jong-roJongno-guSeoulKorea

Tel: +82 2 2121 5115Fax: +82 2 2121 7001

SK Innovation Co., Ltd. isengaged in the exploration andproduction of liquefied naturalgas and petroleum in South Koreaand internationally. It alsomanufactures and sells petroleumproducts, petrochemical products,lubricants, base oils, polymers,lithium batteries, asphalt, lithium-ion battery separators, triacetylcellulose films, and flexible copperclad laminates; olefins, such asparaxylene, ethylene, andpropylene; and aromatics,including benzene, toluene,xylene, paraxylene, and styrenemonomer. In addition, thecompany is involved in the saleof petrochemical products,lubricants, and base oil.

The company was formerlyknown as SK Energy Co., Ltd.and changed its name to SKInnovation Co., Ltd. in January2011. SK Innovation Co., Ltd.was founded in 1962 and isheadquartered in Seoul, SouthKorea.

In the fourth quarter of 2014,the company's average dailyproduction increased to 77,000

barrels per day, up by 6,300barrels per day, mainly due toan increase of 3,100 barrels perday from the Vietnam 15-1 block.

Vietnam Block 15-1Located 160 miles offshoresoutheast of Ho-Chi-Minh City,Block 15-1 is in the Cuu LongBasin. Production from its Su TuDen Field began in late 2003. SuTu Den crude oil is processed andstored in the 1-million-barrel CuuLong Thai Binh FPSO vessel.Production from the Su Tu VangField began in 2008. Firstproduction on the Su Tu DenNortheast Field occurred in May2010.

Su Tu Trang gas field is locatedin Block 15-1 of the Cuu LongBasin off the southern coast ofVietnam. The offshore gas fieldlies south-east of Ba Ria-VungTau province at a water depth of50m and about six kilometresaway from the existing Su Tu Denfield (Black Lion).The Su Tu Trang gas field, alsoknown as the White Lion, hasbeen in production since 2012.The gas field is owned andoperated by Cuu Long JointOperating Company (CLJOC), ajoint venture of PetroVietnam(50%), Perenco (23.25%), KoreaNational Oil Company (14.25%),SK Corporation (nine percent)and Geopetrol (3.5%).

Singapore Petroleum Vietnam

Vung Tau

Ho Chi Minh

SU TU DENAURORA

RANG DONG

BACH HO

RONG

01

15-1V I E T N A M

15-2

16-2

16-109

Location of Block 15-1

SOCO International plc48 Dover StreetLondonW1S 4FFUnited Kingdom

Tel; +44 (0)20 7747 2000Fax: +44 (0)20 7747 2001

Contact:

Antony MarisChief Operating Officer

SOCO is an international oil andgas exploration and productioncompany, headquartered inLondon, traded on the LondonS to ck Exchange and aconstituent of the FTSE 250Index. The Company hasinterests in Vietnam, theRepublic of Congo (Brazzaville),the Democratic Republic ofCongo (Kinshasa) and Angola.

SOCO holds its interests inVietnam, all in the Cuu LongBasin offshore, through its 80%owned subsidiary SOCO VietnamLtd. and through its 100%ownership of OPECO VietnamLimited. SOCO Vietnam Ltd.holds a 25% working interest inBlock 9-2, which is operated bythe Hoan Vu Joint OperatingCompany and holds a 28.5%working interest in Block 16-1,which is operated by the HoangLong Joint Operating Company.OPECO Vietnam Limited holds a2% interest in Block 16-1.

SOCO holds its interests in theRepublic of Congo (Brazzaville),all offshore in the shallow waterLower Congo Basin, through its85% owned subsidiary, SOCOExploration and ProductionCongo SA ("SOCO EPC"). SOCOEPC holds a 29% participatinginterest in the Marine XI Blockand a 29.4% participatinginterest in the Marine XIV Blockand is designated operator ofthe two Blocks.

SOCO holds its interests in theDemocratic Republic of Congo(Kinshasa) though its 85%owned subs id iary, SOCOExploration and Production DRCSprl ("SOCO E&P DRC"). SOCOE&P DRC ho lds a 65%participating interest in theNganzi Block, situated in theNorth Congo Basin onshorewestern DRC, and a 38.25%participating interest in Block V,in the southern Albertine Graben

onshore eastern DRC. SOCO E&PDRC is designated operator ofboth Blocks. SOCO holds its interests in theAngolan enclave of Cabindathrough i t s 80% ownedsubsidiary, SOCO CabindaLimited, which holds a 17%participating interest in theProduction Sharing Agreementfor the Cabinda Onshore NorthBlock.

ProductionProduction averaged 13,960BOEPD in the first half of 2014.

Vietnam operations

SOCO holds its interests inVietnam, all in the Cuu Long Basinoffshore, through its wholly-owned subsidiaries, SOCOVietnam Ltd and OPECO VietnamLimited. SOCO Vietnam Ltd holdsa 25% working interest in Block9-2, which is operated by theHoan Vu Joint OperatingCompany and holds a 28.5%working interest in Block 16-1,which is operated by the HoangLong Joint Operating Company.OPECO Vietnam Limited holds a2% interest in Block 16-1.

Te Giac Trang (“TGT”) Field(30.5% interest; operated byHoang Long Joint OperatingCompany (“HLJOC”))

SOCO announced that first oiland gas from the H5 WellheadPlatform ('H5-WHP') of the TeGiac Trang ('TGT') field occurredon 10 August 2015 followingperforation of the first of the H5development wells. The start ofproduction was achieved moreone month ahead of scheduleand the H5 development projecthas been completed with zerolost time accidents.

The H5-WHP is located in thesouth of the TGT field in Block16-1 in the Cuu Long Basin, off

Soco International Vietnam

the southern coast of Vietnam,approx. 100 kms from Vung Tau,20 kms northwest of the BachHo field and 35 kms west of theRang Dong field.

TGT was discovered in August2005. The H5-WHP is TGT’s thirdplatform to be brought onproduction. The first platform,H1-WHP, came on stream inAugust 2011, followed by the H4-WHP in July 2012. Crude oil fromTGT is transported via subseapipeline to an FPSO where it isprocessed, stored and exportedby tankers to regional oilrefineries. Gas produced fromthe field is transported by pipelineto the nearby Bach Ho facilitiesfor processing and onwardtransportation to shore bypipeline to supply the Vietnamesedomestic market.

TGT field production averaged33.6 thousand barrels of oilequivalent per day (“KBOEPD”)for 1H 2015, 10.1 KBOEPD netto SOCO. Production was slightlyb e l o w t h e C o m p a n y ’ sexpectations due to drillingdelays.

Ca Ngu Vang Field (“CNV”)(25% interest; operated byHoan Vu Joint OperatingCompany (“HVJOC”))

CNV production for 1H 2015averaged 1.8 KBOEPD net to theCompany’s working interest. TheHVJOC is reviewing means forincreasing production throughmodifications to the processfacilities on the reception platformat Bach Ho.

Significant discoveryIn October 2013, SOCOcompleted testing of the TGT-10XST1 exploration well on theH5 fault block of the Te GiacTrang ("TGT") field. The well,which exceeded all pre-testexpec ta t i ons , f l owed a t

combined average maximumproduction from the three zonestested at over 27,600 barrels ofoil equivalent per day.The final test, in the LowerMiocene Intra Lower Bach Ho5.2 Upper and Lower sequence,over a perforated interval of88.6 metres, flowed at anaverage maximum rate of 5,156barrels of oil per day (“BOPD”)and 32.5 million standard cubicfeet of gas per day (“MMSCFD”).Two other intervals were tested.The first test, over a perforated93 metres section in theOligocene “C”, produced at amaximum average rate of 9,488BOPD and 1.16 MMSCFD. Thesecond test, over the MioceneLower 5.2L sequence, tested a47.3 metres perforated interval.The maximum flow averagedover this interval was 7,100BOPD and 1.76 MMSCFD.

The well, located approximatelysix kilometres south of the H4Well Head Platform, in thesouthern part of the TGT fieldin Block 16-1 in the Cuu LongBasin off the southern coast ofV i e t n a m , e n c o u n t e r e dapproximately 250 metres ofgross pay section (approximately119 metres of net pay) in theMiocene and Oligocene reservoirhorizons. Approximately 100metres of net pay wereevaluated by the three tests.

Blocks 125/126On 29 July 2015, SOCO’sPresident and Chief Executive,Ed Story, attended a signingceremony in Hanoi, Vietnam tos ign a Memorandum o fUnderstanding among SOCO,PetroVietnam and SOVICOHoldings regarding potentialexploration and production onBlocks 125-126, offshoreVietnam.

Soco International Vietnam

Talisman Vietnam Limited29 Le Duan, Flr. 18Saigon Tower BuildingDistrict 1Ho Chi Minh CityVietnam

Tel: +848 3823 8232Fax: +848 3823 8237

Contact:Michael LawsonSenior Geophysicist, TalismanEnergy Vietnam

Talisman Energy Inc.Suite 2000, 888 - 3 Street SWCalgary, Alberta, CanadaT2P 5C5

Tel: +403 237 1234Fax: +403 237 1902Email: tlm@talisman-energy.com

Contact:Dr David BeckettVice President, Exploration &Geosciences - Asia-Pacific

Paul BlakeleyExecutive Vice-President, Asia-Pacific

Talisman Energy Inc. is a global,diversified, upstream oil and gascompany, headquartered inCanada. Talisman's three mainoperating areas are NorthAmerica, the North Sea andSoutheast Asia. The Companya lso has a por t fo l io o fin ternat iona l exp lorat ionopportunities.

In 2012, production was 426,000boe/d. Liquids growth inSoutheast Asia, Colombia andthe Eagle Ford, and higher gasvolumes in North America, offsetNorth Sea declines. At the endof 2012, Talisman's 2P reservestotalled 1.7 billion boe, whichequates to a reserve life index of11 years.

Vietnam operations

Talisman holds a 60% interest inBlock 15-2/01 as a partner in theThang Long Joint OperatingCompany ( ‘ ‘JOC’ ’), whichoperates the Block. Block 15-2/01 lies in the Cuu Long Basin,the predominant oil producingbasin in Vietnam. The Companyholds a 49% operated interest inBlocks 133 and 134, 40% inBlocks 135 and 136, and 40% inBlock 05-2/10 in the Nam ConSon Basin. In 2012, Talismanacquired a 35% interest in Blocks45 and 46/07 adjacent to PM-3CAA in the Malay-Tho Chu Basin.In July 2013, Talisman acquireda 55% operated interest in Block07/03, including the Red Emperordiscovery, adjacent to Blocks 135and 136. Block 46/02 wasrelinquished to PetroVietnam inNovember 2013.

In 2013, the HST/HSD project,situated in Block 15-2/01, wascompleted under budget andahead of schedule, producing onaverage 8.5 mbbls/d (net) of oilfor the year. Overall, Vietnamproduction averaged 10 mboe/din 2013, account ing for

approximately 8% of Talisman’stotal Southeast Asia production.

In 2013, three exploration wellswere drilled, and subsequentlyplugged and abandoned, in Blocks45 and 46/07. The Company alsodrilled the first appraisal well andsubsequent sidetrack followingthe acquisition of Block 07/03 inJuly 2013. The final explorationcommitment well for the blockcommenced drilling in January2014.

Two exploration wells and seismicstudies are planned for Blocks135 and 136 in 2014,complementing Red Emperorappraisal activity in Block 07/03.

Ca Rong Do fieldWood Group has been awardedthe front end engineering anddesign (FEED) contract for thesubsea development of theTalisman Energy Ca Rong Do fieldoffshore Vietnam; estimated tocontain around 67 million barrelsof oil equivalent.

Talisman Energy Vietnam

Vietnam National Oil and GasGroup18 Lang Ha StreetBa Dinh, HanoiVietnam.

Tel: (84-4)38252526Fax: (84-4)38265942

Gazprom InternationalNevskiy prospect, 58Saint PetersburgRussian Federation, 191011

Tel: +7 (812) 644-52-90Fax: +7 (812) 644-52-91Email: info@gazprom-international.com

In 2000, OJSC Gazprom and VNGPetroVietnam signed a contracton prospecting, exploration,product ion and sa les ofhydrocarbons in Block 112 of thecontinental shelf of Vietnam. Inorder to implement this contract,a joint operating company wasestablished by OJSC Gazpromand VNG PetroVietnam –Vietgazprom, in which theGazprom Group is representedby its sole specialised operatorof projects outside the RussianFederation on exploration andproduction of hydrocarbons,Gazprom International.

The Bao Vang gas condensatefield was discovered in this Blockin 2007, and in 2009, in theadjacent Bao Den field, theopening of a gas field of the samename took place.

In 2008, the parties signed anAgreement on cooperation, whichprovides for the carrying out ofgeological exploration work andfurther development of four newblocks offshore from the SocialistRepublic of Vietnam, and also thecreation of a joint venture,Gazpromviet, for working inRussia and third countries.

In October 2008, Gazprom andPetroVietnam signed a 30-yearcontract for blocks No.129, 130,131 and 132 on the continentalshelf of Vietnam under PSAconditions, the operator for whichis Vietgazprom. Under thiscontract, 2-D seismic surveywork, electro- and gravi-magneticsurveying, geochemical studies,complex interpretation of datafrom the studies carried out andbasin modelling have been carriedout.

Gazprom and PetroVietnamsigned a Strategic PartnershipAgreement in 2009. The partiesagreed to continue their jointwork on Vietnam's continental

shelf under previously concludedcontracts, and will also examinefurther potential for work in newlicensed blocks.

In 2012, Gazprom International,at Gazprom's request, enteredthe project for exploration anddevelopment of blocks 05-2 and05-3, and in October 2013, aceremony was held to mark thefirst gas obtained from the MocTinh deposit.

Also, in October 2013, anagreement was signed on thebasic principles for a joint venturefor carrying out a project on theuse of natural gas as a motorfuel inside Vietnam. The Russianside is represented in the JVc o m p a n y b y G a z p r o mInternational, as well as GazpromGas Engine Fuel LLC.

Vietgazprom Vietnam

129130131132

Block 111

Block 113Block 112

V

IE

TN

AM

Hanoi

Zarubezhneft Joint StockCompanyBuilding 1, 9/1/1 ArmianskypereulokMoscow 101990, RussianFederation

Tel: (495) 748-65-00Fax: (495) 748-65-05,956-14-91

Zarubezhneft is engaged indevelopment and implementationof projects for integratedexploration and development ofoffshore and onshore oil and gas-b ea r i n g f i e l d s a b r o ad ,construction of oil infrastructurefacilities, carrying out works inthe area of enhanced oil recovery,as well as supplying equipmentand materials to oil and gasfacilities in different regions ofthe world.

Zarubezhneft's most effectiveproject abroad is Joint Venture“Vietsovpetro” in Vietnam,established in 1981 on a 50-50bas is wi th Oi l and GasCorporation Petrovietnam underInter-Governmental Agreement.During the last 30 years JV“Vietsovpetro” has turned into apowerful, multifunctional andhighly-effective enterprise, whichis a leader in the sphere ofeconomics of Vietnam, a strategicobject that gives over 25% ofthe state currency revenue.

DiscoveryIn October 2015, the jointventure of Zarubezhneft andPetrovietnam Vietsovpetro madea commercial discovery of theSturgeon field offshore SocialistRepublic of Vietnam.

It has happened as a result ofthe successful testing of theexploration well CT-3X Block09/3-12 which achieved a dry oilfree flow to surface from theproductive horizons of more than1 800 tons per day.

The Sturgeon (Ca Tam) field wasdiscovered in 2014 in course ofthe exploration well 2-X testing.The field is located within theBlock 09/3-12. The oil reservescalculation shall be made and adesign project for bringing thefield into development shall beprepared basing on the resultsof the commercial discovery.

Zarubezhneft Vietnam

Bach Dang POCBach Dang POC is an Operatorof Block 103 & 107/04 at SongHong Basin offshore Vietnam.The PSC was signed on 22nd June2007. The stakeholders of BachDang POC comprise PVEP 55%and Petronas Carigali 45%.

Con Son JOCCon Son Joint Operat ingCompany is a joint companyb e t w e e n P e t r o v i e t n a me x p l o r a t i o n P r o d u c t i o nCorporation (PVEP) a subsidiaryof PetroVietnam, PetronasCalrigali Oversea Sdn Bhd (Malaysian)( Petronas CarigaliOverseas Sdn Bhd is a subsidiaryof Petronas Gas Bhd). , Pertamina( Indonesian ) and Quad EnergyS.A ( Canadianam), having itsbusiness in oil & gas explorationand production in Block 10 & 11-1 Offshore Vietnam at Nam ConSon Basin.

The stakeholders of Con Son JOCcomprise:- PVEP 40%- PETRONAS 40%- PERTAMINA 10%- QUAD ENERGY SA 10%

Cuu Long JOCCuu Long Joint OperatingCompany was established in 1998to operate the PetroleumExploration & Production Activitiesunder the Petroleum Contract forBlock 15.1 offshore Vietnamsigned on Sep. 16, 1998.

The stakeholders of Cuu LongJOC comprise:- KNOC 14.25%- SK 9%- CONOCOPHILLIPS 23.25%- PVEP 50%- GEOPETROL 3.50%With four significant discoverieshave so far been achieved: Firstis Su Tu Den (Black Lion) Oil Fieldin August 2001, second is Su TuVang (Golden Lion) Oil FieldDiscovery in October 2001, third

is Su Tu Trang (White Lion) Gas-Condensate Field in November2003 and fourth is Su Tu Nau(Brown) Lion Oil Field in August2005; Cuu Long Joint OperatingCompany is now undertaking theproduction of Su Tu Den Oil Fieldand Su Tu Vang Oil Fields,appraisals of Su Tu Trang Gas-Condensate Field and Su Tu NauOil Field.

JVPCJVPC is an Operator of Block 15-2 at Cuu Long Basin offshoreVietnam. The PSC was signed onOct. 07, 1992.

The stakeholders of JVPCcomprise:- JVPC 46.5%- CONOCCPHLLIPS 36%- PVEP 17.5%

Since August 1998, JVPC havebeen producing crude oil fromRang Dong Field in the Block.

Lam Son JOCLam Son JOC, a joint ventureb e t w e e n P e t r o v i e t n a mE x p l o r a t i o n P r o d u c t i o nCorporation (Vietnam) andPetronas Carigali Overseas SdnCompany (Malaysia), hassuccessfully drilled and discoveredcommercial oil and gas at ThangLong structure, Block 02/97, CuuLong Basin, 27km of the Rubyoil field away from Southeast,80km of the Bach Ho oil fieldaway from the Northeast and 160km Vung Tau away from the East.

Lam Son JOC is the Operator oftwo Block 01/97 & 02/97 at CuuLong Basin offshore Vietnam. ThePSC was signed on Jan. 06, 2003.of Lam Son The stakeholders ofLam Son comprise: - PVEP 50%- PCOSB 50%.

Phu Quy POCPQ POC - Phu Quy PetroleumOperating Exploration andProduction Company Limited, is

a subsidiary of PetrovietnamExploration and ProductionCorporation. Phu Quy POC is anOperator of two Blocks at CuuLong Basin:

Block 15-1/05 (PVEP 40%, SKENERGY 25%, Total E&P Vietnam35%). PSC signed on Apr. 11,2007.

Block 16-2 (PVEP 45%, NOEX40%, VSP 15%). PSC signed onNov. 16, 2007.

Dai Hung POCDai Hung Petroleum OperatingCompany Limited, a subsidiaryof Petrovietnam Exploration andProduction Corporation. Dai Hungis Operator of Block 05-1A atNam Con Son Basin with a 100%stake. Dai Hung Oil Field cameon Stream on October 14, 1994.

Thang Long JOCThang Long Joint OperatingCompany is a Petroleum JointVenture Company, formedbetween Talisman (Vietnam 15-2/01) Ltd of Canada with a 60%stake and Pet roV ie tnamExplorat ion & Product ionCorporation (PVEP) of Vietnamwith a 40% stake at Cuu LongBas in Of fshore V ietnam.

Joint Ventures Vietnam

ABB

Aker Solutions

ALS

Cal Dive International

CAMERON

DNV GL

EMAS

Esri

Expro

Fairfield Vietnam

Falck Nutec

Foster Wheeler

Fugro

Keppel Offshore Marine

Mitsubishi Heavy Industries

Nexans

ROXAR

Seatag Offshore

SGS Vietnam

Siemens Power Generation

Swagelok Company

Technip

Wärtsilä

Yokogawa

Service Companies Vietnam

ABBABB is a leader in power andautomation technologies thatenable industry and utilityc u s t o m e r s t o i m p r o v eperformance while loweringenvironmental impact. The ABBGroup of companies operates inaround 100 countries andemploys about 145,000 people.

ABB VietnamKm 9 National Road 1AHanoi

Tel: +84 4 3861 1010

No. 1 Road TS-23Bac Ninh

Tel: +84 241 374 8530

167 Tran Phu StreetDa Nang

Tel: +84 511 625 1717

9 Doan Van Bo StreetHo Chi Minh City

Tel: +84 8 3943 1488

ABB LimitedHareness RoadAB12 3LE AberdeenAberdeenshire

Tel: +44 1224 579501

Aker SolutionsAker Solutions ASA, through itssubsidiaries and affiliates ("AkerSolutions"), is a leading globaloil services company thatprovides engineering services,technologies, product solutionsand field-life solutions for the oiland gas industry. The AkerSolutions group is organised ina number of separate legalentities. Aker Solutions is usedas the common brand/trademarkfor most of these entities.

Aker Solutions' parent companyis Aker Solutions ASA. AkerSolutions employs approximately17 000 people in about 30countries.

Aker Solutions is part of Aker, agroup of premier companies witha focus on energy, maritime andmarine resource industries.

Aker Solutions (Services) PteLtd.Visit Address: Level 6, Room 618Me Linh Point Tower, 2 Ngo DucKe StreetDistrict 1, Ho Chi Minh City,Vietnam

Tel: +84 8 3520 2980Fax: +84 8 3823 7840

PTSC Supply BasePostal Address:65A, 30/4 Str. Building A10, 9thWard RoadVung Tau, Vietnam

Tel: +84-(0)64 59 1607Fax: +84-(0)64 59 1607

Aker Solutions ASAHeadquartersSnarøyveien 36, 1364 FornebuNO-1325 Lysaker, Norway

Tel: +47-67-51-30-00Fax: +47-67-51-30-10

Aker Business Services Ltd(Aberdeen)Howe Moss Avenue, KirkhillIndustrial EstateDyce, Aberdeen AB21 0GPUnited Kingdom

Tel: +44 (0) 122 441 4515

ALSALS is a global market-leadinganalytical laboratory and technicalservices provider. The companydates back to 1863 and today ispublicly traded on ASX, theAustralian stock exchange, where

it enjoys Top 100 status.Headquartered in Brisbane, ALSemploys more than 13,000people in 350 strategically-placedfaci l i t ies across f i fty-f ivecountries.

ALS' acquisition of ReservoirGroup underlines the firm'sambit ions to broaden itscapabilities in upstream Oil andGas, offering customers anenhanced end-to-end servicewhilst complementing its world-renowned laboratory services.

VietnamWorkshop 7C, VCP 973 April 30StreetVungTau, Vietnam

Tel: 84-(0)-64-362-3935

ALS Oil & Gas1 Albyn Terrace, AberdeenAB10 1YP, UK

Tel: +44(0)1224 628 970Fax: +44(0)1224 628 989

Cal DiveInternationalCal Dive International, Inc.,headquartered in Houston, Texas,is a marine contractor thatprovides an integrated offshoreconstruction solution to itscustomers, including manneddiving, pipelay and pipe burial,platform installation and platformsalvage services to the offshoreoil and natural gas industry onthe Gulf of Mexico OCS,Northeastern U.S., Latin America,Southeast Asia, China, Australia,the Middle East and theMediterranean, with a fleet of 29vessels, including 19 surface andsaturation diving support vesselsand 10 construction barges.

Service Companies Vietnam

Cal Dive InternationalPetroVietnam Towers 2nd FloorSuite No.2408 Hoang Dieu Street, Ward 1,Vung Tau CityBa Ria Province, Vietnam

Tel: +84.64.511770Fax: +84.64.511771

Cal Dive International, Inc.Corporate Office2500 CityWest Blvd. Suite 2200Houston, TX 77042-3097

Tel: 713.361.2600Fax: 713.361.2690

CAMERONCAMERON is a leading providerof flow equipment products,systems and services toworldwide oil, gas and processindustries.

Products include wellheads,christmas trees, controls, chokes,b lowout preventers andassembled systems employed ina wide variety of operatingenvironments - basic onshorefields, highly complex onshoreand offshore environments,deepwater subsea applicationsand ultra-high temperaturegeo t he rma l o pe ra t i o n s .CAMERON work with drillingcontractors, oil & gas producers,pipeline operators, refiners andother process owners to control,direct, adjust, process, meaasureand compress pressures andflows.

Viet-tech Process Technology

101A Nguyen Khuyen StreetHanoi, Vietnam

Tel: 84-4-942-2957

Cameron - Corporate Office1333 West Loop SouthSuite 1700Houston, TX 77027

Tel: 713.513.3300

DNV GLAs of 12 September 2013, DNVand GL merged to form DNV GL.The company now form theworld’s largest ship and offshoreclassification society, the leadingtechnical advisor to the global oiland gas industry, and a leadingexpert for the energy value chainincluding renewables and energyefficiency. DNV GL have alsotaken a position as one of thetop three certification bodies inthe world.

Office address:Villa Veritas, 4 Le Quy Don StreetVung Tau

Postal address:Villa Veritas, 4 Le Quy Don StreetVung TauViet Nam

Tel: +84 64 3857 140/2

DNV GLOffice address:Veritasveien 1HøvikNorway

Postal address:P.O.Box 3001322 HøvikNorway

Tel: +47 6757 9900

EMASFounded in 1992, EMAS - aleading global offshore contractorproviding construction, marine,production and well interventionservices - is the operating brand

for Ezra Holdings Limited. Adeptin delivering best-value solutions,EMAS has entrenched itself asan emerging adjunct in the oiland gas (O&G) industry bycombining its customisedapproach with a diverse offeringof assets and services designedto fully meet clients’ needs. Itoperates globally with offices in16 locations across five continentsspanning Africa, the Americas,the Asia-Pacific and Europe.

Having completed the acquisitionof Aker Marine Contractors AS in2011, the Group has added oneof the world’s leading SURF(subsea umbilicals, risers &flowlines) and floater installationproviders to its fold. Ezra, throughEMAS, operates four mainbusiness segments that togetherhave the ability to execute a fullspectrum of seabed-to-surfaceengineering, construction, marineand product ion serv icesthroughout the world.

Vietnam99 Quarter 3, Thanh My Loi Ward,Dist 2Ho Chi Minh City, VietnamIndia

Corpo ra te Headqua r te r s15 Hoe Chiang Road #28-01Tower Fifteen, Singapore 089316

Tel: (65) 6349 8535Fax: (65) 6345 0139

EsriEsri inspires and enables peopleto positively impact the futurethrough a deeper, geographicunderstanding of the changingworld around them.Esri has 2,900 employees, 10regional offices in the US, andmore than 80 distributors outsidethe US.

Service Companies Vietnam

Esri Vietnam CompanyLimited32 To Ngoc Van StreetQuang An, Tay Ho, Ha Noi,Vietnam

Tel: (84) 4 6258 1896

EsriHeadquarters380 New York StreetRedlands, CA 92373-8100U.S.A.

Tel: 909-793-2853

Esri (UK) Ltd.Millennium House65 Walton StreetAylesbury HP21 7QGUnited Kingdom

Tel: 44 1296 745 500

ExproExpro International Group'sb u s i n e s s i s w e l l f l o wmanagement. Expro is a leadinginternational provider of servicesand products that measure,improve, control and process flowfrom high-value oil and gas wells.

Through its global and regionaloperat ions, Expro of ferscustomers the expertise andreliability borne of years ofexperience in the industry.Products, services and technologyare offered to customers throughfive marketing segments: WellTesting & Commissioning,Production Systems, WirelineIntervention, Drilling ChokeSystems and Connectors &Measurements.

Expro has grown rapidly in recentyears, both organically andthrough strategic acquisitions, tobecome a leading player in theglobal market place. Exproemploys more than 4,500 peoplein 50 countries through a regionaloperational structure. Expro is

supported by product centres inEurope and North America anda corporate office in the UK.

Exproc/o PTSC Supply Base65A Road 30/4Vung Tau CityS.R. of Vietnam

Tel: +84 64 383 4188

Expro International GroupPLCReading Bridge HouseReading BridgeReadingBerkshire RG1 8PR

Tel: 01189 591341Fax: 01189 589000

AberdeenLion House, Dyce AvenueDyce, AberdeenAB21 0LQ

Tel: +44 1224 225700

Fairfield VietnamFairfield Vietnam providesadvanced seismic data processingand interpretation services to theVietnam Oil and Gas Communityand to the S. E. Asia marketplace.2D and 3D PSTM and PSDM aswell as other innovative and stateof the art technology have madema jo r c on t r i bu t i on s t ohydrocarbon exploration inoffshore Vietnam.

Fairf ie ld Vietnam Ltd.Broadway E, No 2 BertrandRussell Street,Phu My Hung Area, Dist 7Hochiminh CityVietnam

Tel: 84-8-4135206Fax: 84-8-4135207E: fairfieldvn@fairfield.com.vn

Falck NutecFalck Nutec, a world leader inHealth, Safety, Survival trainingand consultancy services hasbeen servicing the oil and gas,shipping, renewable energy,military and aviation industriesworldwide for over 3 decades.

Falck Nutec is a division of Falck- a Nordic based organizationwhich has been preventingaccidents, disease and providingass istance in emergencysituations for over a century.

Falck Nutec VietnamDong Xuyen IP, No. 11 streetIndustrial Park, Rach Dua WardVung Tau CityVietnam

Tel: +84 64 3616 080Fax: +86 64 3616 082

Falck Nutec Global SalesUglviggaardsvej 36705 Esbjerg ØDenmark

Tel: +45 76 12 13 14Fax: +45 76 12 13 13

Foster WheelerFoster Wheeler AG is a globalengineering and constructioncompany and power equipmentsupplier delivering technicallyadvanced, reliable facilities andequipment. The companyemploys approximately 12,000talented professionals withspecialized expertise dedicatedto serving its clients through oneof its two primary businessgroups. The company’s GlobalEngineering and ConstructionGroup designs and constructsleading-edge processing facilitiesfor the upstream oil and gas, LNGand gas-to-liquids, refining,chemicals and petrochemicals,power, mining and metals,

Service Companies Vietnam

environmental, pharmaceuticals,biotechnology and healthcareindustries. The company’s GlobalPower Group is a world leader incombustion and steam generationtechnology that designs,manufactures and erects steamgenerat ing and auxi l iaryequipment for power stations andindustrial facilities and alsoprovides a wide range ofaftermarket services. Thecompany is based in Zug,Switzerland, and its operationalheadquarters office is in Geneva,Switzerland.

The company's Global PowerGroup office in Hanoi, part ofPower Group Asia (FWPGA),suppo r t s new bus i ne s sdevelopments in Vietnam andother Southeast Asian countries,such as Myanmar, Laos andThailand. This office also providesaftermarket services and projectexecution assistance to FosterWheeler projects in Vietnam.

Global E&C Group & GlobalPower GroupSuite 706-708, 7th FloorCentral Building, 31 Hai Ba TrungSt. HanoiTel: +84-4-39393809

Principal Executive OfficesFoster Wheeler AG80 Rue de Lausanne1202 Geneva, SwitzerlandTel: +41-22-741-8000

FugroFugro provides the people,equipment, expertise andtechnology that support theexploration, development,production and transportation ofthe world’s natural resources.Fugro also provides its clientswith the technical data andinformation required to design,construct and maintain structuresand infrastructure in a safe,reliable and efficient manner.

Services that are provided locally,are supported by a globalknowledge base and resourcepool of experienced personnel.The services are often offered incombination in order to achievethe optimum results for theclients.

Fugro-JasonFugro-Jason delivers innovativesoftware products and servicesto help clients identify andproduce hydrocarbon deposits byintegrating information from thevarious geoscience disciplines.Fugro-Jason software applicationsmake it possible to integrategeo log i ca l , geophys i ca l ,geostatistical, petrophysical androck physics information into asingle consistent model of theearth.

Fugro Geotechnics VietnamLLCHo Chi Minh City, Viet Nam31 Street 0, My Giang II, Phy MyHung, Tan Phong WardDistrict 7, Ho Chi Minh City

Tel: +84 8 5413 8228

FugroHead OfficeVeurse Achterweg 102264 SGLeidschendamThe Netherlands

Tel: +31 (0)70 311 1422

Keppel OffshoreMarineKeppel Offshore Marine is a globalleader in mobile offshore rigs,ship repair, ship conversions andspec ia l i zed sh ipbu i ld ing.Integrating the experience andexpertise of its 17 yardsworldwide, the Group aims to bea provider of choice and a partnerin solutions for the offshore andmarine industry.

Keppel FELS RepresentativeOfficePetroVietnam Towers, Suite 150M08 Hoang Dieu StreetWard 1, VungtauVietnam

Tel: 84-64-850098Fax: 84-64-850089

Mitsubishi HeavyIndustriesMitsubishi Heavy Industries, Ltd.provides a full range of servicesin the power generation field,including development, design,construction and after-salesservices.

Ho Chi Minh RepresentativeofficeUnit-E, 4th Floor, OSIC Building,No.8Nguyen Hue Street, District 1Ho Chi Minh CityVietnam

Tel: 84-8-8243279Fax: 84-8-8242874

Mitsubishi Heavy Industries,Ltd.3-1, Minatomirai 3-ChomeNishi-ku, Yokohama Japan

Tel: 81-45-224-9545Fax: 81-45-223-1725

NexansNexans is the worldwide leaderin the cable industry. The Groupis present at every level of oiland gas production, providing awide range of energy and telecomcables for onshore and offshoreand offshore exploration,production and distribution, aswel l as for ref inery andpetrochemical infrastructure.

Service Companies Vietnam

Vietnam Office:104 Dao Duy Anh StreetWard 9, Phu Nhuan DistrictHCMCVietnam

Tel: 84-903 205 205

Nexans20 Harbour DrivePSA Vista #07-03Singapore

Tel: 65-63170101Fax: 65-63170103

ROXARROXAR is an internationaltechnology and services provider,dedicated to developing effectives o l u t i o n s t o r e s e r v o i rmanagement problems forcompanies of all sizes across theworld. Roxar is the industry leaderin 3-D reservoir characterizationand integrated simulationsoftware, permanent downholesensors and direct multiphaseand wetgas flow meters. TheCompany has a strong portfolioof proven products and iscommitted to the continuousdevelopment of innovativeproducts for enhanced reservoirunderstanding and measurement,monitoring and control productsfor topside subsea and downholeapplications.

ROXARSuite 3B – 08A, Saigon TradeCenter37 Ton Duc Thang Str, Dist 1,HCMC Vietnam

Tel: (+84-8) 910-5974Fax: (+84-8) 910-5975

Seatag Offshore -OSTCProviding international standardtraining courses in Health, Safetyand Emergency Response for the o f f sho re and onsho rePetrochemical, Construction andMarine Industries. Coursesinclude; Firefighting, First Aid,Helicopter operations (HUET, HLO,Refueling and Crash Rescue),Crane Operator (onshore andoffshore), Rigging and Slinging,MEM, Safety Officer, and manymore.

Vietnam Office:Seatag Offshore – OstcLane 1, Dong Xuyen IndustrialPark,Ward. 10, Vung TauVietnam

Tel: 84-64-551098/612099Fax: 84-64-612699

SGS Vietnam LtdSGS is the world’s leadinginspection, verification, testingand certification company. SGSis recognized as the globalbenchmark for quality andintegrity. With 43,000 employees,SGS operates a network of over1,000 offices and laboratoriesaround the world.

In Vietnam since 1989, SGSoperates across the followingsectors:1. Agriculture2. Consumer Products includingFoodstuffs3. Oil, Gas and Chemical4. Governments and InternationalInstitutions5. Certification Services - ISO9000, ISO 14000 and SA 80006. Minerals7. Industrial Projects.

SGS Vietnam Ltd141 Ly Chinh Thang St. Dist 3.Ho Chi Minh City, Vietnam

Tel: 84-8-9351920Fax: 84-8-9351921

Siemens AG,Power GeneratonSiemens Power Generation is oneof the world's leading specialistsin planning, construction andupgrades of power plants;development, production andsupply of components andsystems, comprehensive plantservices, I&C solutions andenergy management systems;fuel cells, turbines, compressorsand full-scope solutions forindustrial plants, in particular forthe oil & gas business; windenergy systems and IntegratedGasification Combined Cycleapplications.

Siemens AG RepresentationVietnam2nd Floor, The Landmark Bldg5B Ton Duc Thang, D1Ho Chi Minh City, Vietnam

Tel: 84-8-8251900Fax: 84-8-8251580

S i e m e n s A G , P o w e rGeneratonFreyeslebenstrasse 1,91058 Erlangen, Germany

Tel: 49-9131-18-0Fax: 49-9131-18-3815

SwagelokCompanySwagelok Company is a majordeveloper and manufacturer off lu id sys tem componenttechnologies for a wide varietyof industries, including chemicaland petrochemical, oil and gas,sanitary, power generation, andsemiconductor.

Swagelok products are delivered

Service Companies Vietnam

to end customers through aglobal network of over 200independent sales and servicecenters.

Vietnam Office:Minh Tam Trading ServiceConstruction EnterpriseNo.25, Road 9, Binh Thoi Quarter,Ward 8District 11Ho Chi Minh CityVietnam

Tel: 84-8-9627147-08Fax: 84-8-9627147

Swagelok Company31500 Aurora Rd, Solon, Ohio,U.S.A

Tel: 1-400-349-5934Fax: 1-400-349-5843

TechnipTechnip is a world leader inproject management, engineeringand construction for the energyindustry.

From the deepest Subsea oil &gas developments to the largestand most complex Offshore andOnshore infrastructures, thecompany's workforce of around25,000 people offer solutions andinnovative technologies to meetthe world’s energy challenges.

Present in 48 countries, Techniphas state-of-the-art industrialassets on all continents andoperates a fleet of specializedvessels for pipeline installationand subsea construct ion.

Technip Vietnam Co. LtdUnit #305, 3rd Floor CentecTower,72-74 Nguyen Thi Minh KhaiStreet,Ward 6, District 3Ho Chi Minh CityVietnam

Technip HQCS 5165089 avenue de la Grande Armée75773 Paris Cedex 16France

Tel: +33 (0)1 47 78 24 00

Wärtsilä

Wärtsilä is a global leader incomplete lifecycle power solutionsfor the marine and energymarkets. By emphasisingtechnological innovation and totalefficiency, Wärtsilä maximisesthe environmental and economicperformance of the vessels andpower plants of its customers.

Saigon Trade Center, Unit 702B,7th Floor37 Ton Duc Thang Street, BenNghe WardDistrict 1, Ho Chi Minh City,Vietnam

Tel +84 8 3911 5496 /97

Wärtsilä CorporationJohn Stenbergin ranta 2FI-00530 Helsinki, Finland

Post AddressP.O. Box 196, FI-00531 Helsinki,Finland

Tel: +358 10 709 0000

YokogawaFounded in 1915, YokogawaElectric Corporation (Yokogawa-denki-kabushikigaisha) is aJapanese electrical engineeringand software company, withbusinesses based on i tstechnologies in measurement,control, and information. It hasa workforce of over 19,000 in its80 companies worldwide,operating in 33 countries.

Yokogawa Vietnam CompanyLtd.Level 1 & 4, Viet Hai BldgLot C2-H Duy Tan, Dich Vong HauWardCau Giay Dist., Hanoi, Vietnam

Tel: (84-4) 3 763 5115 / 3 7637440

World HeadquartersYokogawa-denki-kabushikigaisha9-32, Nakacho 2-chomeMusashino-shiTokyo 180-8750Japan

Yokogawa United KingdomLtd.Stuart RoadManor ParkRuncornCheshire WA7 1TRUnited Kingdom

Tel: (44)-1-928-597-100

Service Companies Vietnam

Murphy Farms in to 15-1/05 PSC, offshoreVietnamOctober 2015

Murphy reached an agreementwith PetroVietnam ExplorationProduction Corporation (PVEP)and SK Innovation Co. Ltd. (SK)to farm-in to the 15-1/05Production Sharing Contract(PSC), in the highly prospective,oil prone, Cuu Long Basin,Offshore Vietnam. Murphy willhold a 35 percent working interestin the PSC. Oil discoveriespreviously made in the PSC arecurrently under appraisal andPVEP, as the operator, recentlycompleted the successful drillingand testing of well LDV-4X in twozones and i s cu r ren t l yincorporating these well resultsinto the resource assessment ofthe block.

Joint Venture PartnersSurrender Block 121October 2015

The Block 121 Joint Ventureparties are withdrawing from thelicence following the unsuccessfuldrilling of the Whale prospect(121-CV-1X) and the inabilityover the last 12 months to securea farmin partner to share thecosts and risk of drilling anadditional well in the licence.

Participating interests in Block121 are:Pan Pacific Petroleum NL (viasubsidiaries) 15%Origin (via subsidiaries) 45%(operator)Premier Oil (via subsidiaries)40%

Zarubezhneftannounces commercialdiscovery in VietnamOctober 2015

JV Vietsovpetro has made acommercial discovery of theSturgeon field offshore Vietnam

The joint venture of Zarubezhneftand Petrovietnam Vietsovpetrohas made a commercial discoveryof the Sturgeon field offshoreSocialist Republic of Vietnam.

It has happened as a result ofthe successful testing of theexploration well CT-3X Block09/3-12 which achieved a dry oilfree flow to surface from theproductive horizons of more than1 800 tons per day.

The Sturgeon (Ca Tam) field wasdiscovered in 2014 in course ofthe exploration well 2-X testing.The field is located within theBlock 09/3-12. The oil reservescalculation shall be made and adesign project for bringing thefield into development shall beprepared basing on the resultsof the commercial discovery.

Rosneft and JapanDrilling Co signagreement forexploration campaignSeptember 2015

Rosneft Vietnam and JapanDrilling Co (JDC) represented byits subsidiary Hakuryu 5, Inc.have signed an agreement onprovision and operation of themarine drilling rig HAKURYU-5,for the purposes of drillingexploration wells within theframework of Rosneft’s projectsin Vietnam. It is planned to drilltwo wells in Blocks 06.1 and 05-3/11 in the Nam Con Son basinoffshore Vietnam in 2016.

Consistent implementation ofdrilling works at both blocks willensure synergy between the two

projects and help reduce thetimelines for implementation ofthe works, thus maximizing theefficiency of exploration activitiesat the Company’s Vietnameseassets.

BackgroundBlock 06.1: Rosneft Vietnamowns 35% in the project, actingas the project operator; theproject is being implementedbased on the Production SharingContract (PSC). The PSC areacomprises two gas condensatefields – Lan Tay and Lan Do. Thefields are located 370 km fromthe shore in the Nam Con Sonbasin, the sea depth at the fieldsreaches 190 m. The initial gasreserves at the fields are about68 billion cubic meters. By June2015, accumulated productionfrom Block 06.1 reached 300million barrels of oil equivalent(or over 46 bcm of gas).

Block 05-3/11: Rosneft Vietnamowns 100% in the project and isthe project operator. The licensedblock is located in the region withproven hydrocarbon potential andwell-developed infrastructure thatalso borders with the alreadyoperated fields of Block 06.1. Thecurrent estimate of Block 05.3/11reserves is 40 billion cubic metersof gas and 9 million tons of gascondensate. 3D-seismic surveyof 1,180 sq kms and subsequentinterpretation and studies havebeen completed, structures forexploration drilling activities in2016 were defined.

Rosneft is also an investor with32.67% equity in the Nam ConSon Pipeline – transporting gasand condensate from fouroffshore blocks in the Nam ConSon basin to power complexonshore –which creates apotential synergy in the event ofdiscovery of commercial reservesin Block 05-3/11.

News Review Vietnam

China oil rig to keepdrilling in watersdisputed with VietnamAugust 2015

A Chinese oil rig at the centre oflast year's standoff betweenChina and Vietnam will continuedrilling not far from Vietnam'scoast, China's maritime safetyauthorities said on Tuesday.

The deployment of the $1 billiondeepwater rig last year about120 nautical miles off Vietnam'scoast, in what Vietnam considersits exclusive economic zone(EEZ), led to the worstbreakdown in relations since abrief border war in 1979. Chinasaid at the time the rig wasoperating completely within itswaters.

The rig, called the Haiyang Shiyou981, was removed last July, butreturned to the area in June ofthis year to explore for oil andgas. A notice from China'sMaritime Safety Administrationsaid at the time that the rig wouldcarry out 'ocean dr i l l ingoperations' until August 20.

Vietnam's people remainembittered over a perceivedhistory of Chinese bullying andterritorial claims in the SouthChina Sea. China has beenincreasingly assertive in the SouthChina Sea, condemning anarbitration case initiated by thePhilippines and reclaiming landon islands and reefs under itscontrol. Last week a new U.S.Pentagon report said China hasreclaimed more land in thedisputed Spratly Islands thanpreviously known.

Source: Reuters

Wood Group awardedFEED contract forTalisman's Ca Rong Dofield offshore VietnamAugust 2015

Wood Group has been awardedthe front end engineering anddesign (FEED) contract for thesubsea development of theTalisman Energy Ca Rong Do fieldoffshore Vietnam; estimated tocontain around 67 million barrelsof oil equivalent.

Wood Group Kenny (WGK) willcarry out comprehensive flowassurance studies and full FEEDengineering of the subsea systemand structures, risers, flowlines,and power and control umbilicals.The work on the subsea FEEDwill be carried out from WGK’sKuala Lumpur off ice andsupported by other WGK AsiaPacific offices.

This follows the award of the toptensioned riser (TTR) FEEDcontract for design of the dry treeproduction/injection and drillingriser systems. The WGK Houstonoffice, a centre of excellence fordry t ree r i ser sys temengineering, will carry out theengineering for the tension legwellhead platform (TLWP)supported r iser systems.

SOCO announcescommencement ofproduction from the TGTH5 platform offshoreVietnamAugust 2015

SOCO Internat iona l hasannounced that first oil and gasfrom the H5 Wellhead Platform('H5-WHP') of the Te Giac Trang('TGT') field occurred on 10August 2015 following perforationof the first of the H5 developmentwells. The start of productionhas been achieved more one

month ahead of schedule and theH5 development project has beencompleted with zero lost timeaccidents. The perforationcampaign will continue over thenext two weeks targeting theopt imal balance betweenmaximising new production fromthe H5-WHP, natural productiondecline rates and water-cut fromthe existing wells with total liquidshandling capacity on the FPSOcurrently available to the TGTpartners.

The H5-WHP is located in thesouth of the TGT field in Block16-1 in the Cuu Long Basin, offthe southern coast of Vietnam,approx. 100 kms from Vung Tau,20 kms northwest of the BachHo field and 35 kms west of theRang Dong field.

TGT was discovered in August2005. The H5-WHP is TGT’s thirdplatform to be brought onproduction. The first platform,H1-WHP, came on stream inAugust 2011, followed by the H4-WHP in July 2012. Crude oil fromTGT is transported via subseapipeline to an FPSO where it isprocessed, stored and exportedby tankers to regional oilrefineries. Gas produced fromthe field is transported by pipelineto the nearby Bach Ho facilitiesfor processing and onwardtransportation to shore bypipeline to supply the Vietnamesedomestic market.

Block 16-1, where TGT is located,is operated on behalf of SOCO(30.5%) and its partners,PetroVietnam Exploration &Production Corporation (41%)and PTT Explorat ion andProduction Public CompanyLimited (28.5%), by the HoangLong Joint Operating Company.

News Review Vietnam

SOCO signs MoU forBlocks 125/126,offshore VietnamJuly 2015

On 29 July 2015, SOCO’sPresident and Chief Executive,Ed Story, attended a signingceremony in Hanoi, Vietnam tos ign a Memorandum o fUnderstanding among SOCO,PetroVietnam and SOVICOHoldings regarding potentialexploration and production onBlocks 125-126, offshoreVietnam.

Petrovietnam boostscooperation withMurphy Oil andExxonMobilAugust 2015

The Viet Nam National Oil andGas Group (Petrovietnam) andMurphy Oil Corp signed amemorandum of understanding(MoU) on July 8 to boostcooperation in oil and gasprojects. The MoU was signed byPetrovietnam Chairman NguyenXuan Son and the President andCEO of Murphy Oil Corp, RogerW. Jenkins, in the presence ofGeneral Secretary Nguyen PhuTrong, who is on a visit to theUnited States.

Murphy has financial potential,expertise and the technology forexplor ing, surveying andexploiting oil and gas, especiallyin new areas and on deep-seasites. The corporation sees theVietnamese market as an areawith long-term developmentpotential and values Petrovietnamas a dynamic and effectivepartner. It is especially interestedin pa r t i c i pa t i ng i n thedevelopment of the Block B gasproject, the Malay-Tho Chu basinin Viet Nam and a number ofblocks in Cuu Long basin.

The corporation has invited

Petrovietnam to take part in itsprojects in Mexico Bay.

Son and his entourage also metthe Vice Chairman of ExxonMobilfor the Asia-Pacific region,Raymond E. Jones, and othersenior officials at the WashingtonHilton on the same day. Duringthe meeting, Jones greatlyappreciated Petrovietnam’sefforts, along with ExxonMobil,to advance the Ca Voi Xanh (BlueWhale) project, located off thecoast of Viet Nam. He spoke ofthe project’s progress so far andabout preparations to draw upplans for the gas field in future.

Son affirmed that a cooperationagreement and contracts signedwith ExxonMobil would beimplemented with the aim of thetwo companies sharing andcreating the most favourableconditions to develop together.He urged ExxonMobil to useadvanced technologies to exploitthe gas field in the most effectiveway, minimising spending andlowering costs. He said the twosides should work together tofind answers to issues such asgas consumption, the price ofgas and commercial conditions.It is necessary to take theinitiative to find gas consumerswho can use the gas mosteconomically, he said.

Petrovietnam would ask theVietnamese Government to findways to build gas-fired powerplants in the central region, aswell as draw up policies to helpgas consumers develop theiroperations in the region, he said.It would also propose investmentincentives to develop the project,he added.

In 2013, an agreement on theCa Vo i Xanh p l a t f o rmdevelopment project was signedbetween the two companies inWashington D.C., with the aimof creating a schedule, a strategyand an overall plan for theproject. The project is scheduled

to begin supplying gas and powerby 2021.

PetroVietnam acquiresChevron's Vietnamupstream assetsJune 2015

Chevron on Wednesday closedthe sale of its stake in explorationblocks and a pipeline project inVietnam to state-run Vietnam Oil& Gas Group, or PetroVietnam,for an undisclosed amount ofmoney. The move representsChevron's exit from Vietnam'supstream oil and gas sector, asthe oil major trims its globalportfolio.

Chevron said it has sold its stakein two production sharingcontracts in Vietnam, whichincludes a 42.4% interest inBlocks B and 48/95, and a 43.4%interest in Block 52/97. It hasalso sold its 28.7% non-operatedworking interest in a pipelineproject to supply natural gas toutilities in southern Vietnam.

PetroVietnam had said in April itwould resume work at Block B inJune, after taking over fromChevron. It said the block isexpected to produce 13.9 millioncubic meters of gas and between6,000 and 7,000 barrels ofcondensate a day. It expectedfirst gas output to be broughtonshore by 2019 or 2020.

Mitra Energycommences 3D seismicacquisition in Block 127,offshore VietnamJune 2015

Mitra Energy, through itssubsidiary operating companyMitra Energy (Vietnam PhuKhanh) Pte Ltd, commenced 3Dseismic survey acquisitionoperations in the Block 127 PSCarea, offshore Vietnam. The

News Review Vietnam

survey is being undertaken byPTSC CGGV Geophysical SurveyCo utilising the 3D seismic surveyvessel 'Amadeus'. The 3D seismicsurvey is planned to cover a full-fold area of 533 sq kms and willfulfil the PSC Exploration PhaseOne extension 3D seismic surveyacquisition commitment of 500full-fold sq kms. The survey isanticipated to take 21 days tocomplete.

Block 120 3D seismicprogram begins offshoreVietnamMarch 2015

KrisEnergy Ltd. announced thatthe CGG Amadeus vessel hascommenced a 570 sq. km. 3Dseismic acquisition program inthe Block 120 exploration acreageoffshore central Vietnam.

Block 120 covers 6,869 sq. kmoverlying the Quang Ngai Grabenand the Tri Ton Horst where waterdepths range from 50 to 650metres. The graben connects theSong Hong and QiongdongnanBasins in the north to the PhuKhanh Basin in the south.

KrisEnergy holds a 33.33%working interest in Block 120 andis partnered by Eni Vietnam B.V.as the operator with 66.67%working interest. CGG Amadeusis owned by PTSC CGGVGeophysical Survey.

KrisEnergy becomesoperator of VietnamBlock 105March 2015

KrisEnergy Ltd. is increasing itsworking interest in Block 105-110/4 (“Block 105”) and takingover operatorship of theproduction sharing contractfollowing the execution of a deedof assignment on 9 March 2015between Eni Vietnam B.V. (“Eni

Vietnam”) and KrisEnergy (SongHong 105) Ltd (“KrisEnergy 105”)(“Deed”).

Block 105 covers 7,192 sq. kmin the Gulf of Tonkin, overlyingthe central Song Hong Basinwhere water depths range from20 metres to 80 metres. A singleexploration well, Cua Lo-1, wasdrilled in the contract area in2013, which confirmed theexistence of a petroleum systemwithin the block.

KrisEnergy announcesVietnam Block 105 andBlock 120 partnerupdateFebruary 2015

Kr isEnergy refers to i tsannouncements released on 15April 2014 and 12 August 2014,both titled Vietnam Block 105and Block 120 – Partner Update.

Pursuant to the deed executedbetween Eni Vietnam, KrisEnergy105, KrisEnergy 120 and NeonEnergy in relation to the defaultand subsequent withdrawal ofNeon Energy, an amendedinvestment certificate each forBlock 105 and Block 120 hasbeen issued by the Ministry ofIndustry and Trade of Vietnamon 13 February 2015.

The amended investmentcertificate for Block 105 reflectsthe revised working interestholding of 66.67% by Eni Vietnamand 33.33% by KrisEnergy andthe amended investmentcertificate for Block 120 reflectsthe revised working interestholding of 66.67% by Eni Vietnamand 33.33% by KrisEnergy.

SOCO announcesupdated technicalreview of Te Giac Trangresources, offshoreVietnamDecember 2014

SOCO In ternat iona l hasannounced that ERC Equipoise('ERCE') has completed itsevaluation of the Block 16-1 TeGiac Trang field ('TGT') offshoreVietnam, which confirms theCompany's long standing view ofthe size and production potentialof the TGT field.

Evaluation highlights:• The updated TGT Stock Tank

Oil Initially In Place ("STOIIP")demonstrates a most likely volume of 818 million barrelsof oil ("MMBO") for the currently drilled fault blocks. Including the H5N and H5S fault blocks, planned to be drilled in Q1 2015, the most likely STOIIP would be 949 MMBO.

• Potential oil recovery within the expected licence period to2030, based on the most likelycase Geological Model (inclusive of H5N and H5S) andunder a variety of potential development scenarios evaluated to date, are estimated at up to 319 MMBO. SOCO's TGT booked 2Poil reserves as at 31 December2013 correspond to an initial gross field recoverable volumeof 298 MMBO.

• The ERCE reservoir modellingdemonstrates facilities unconstrained field performance potential in excessof 100,000 bopd

• The reservoir modelling provides a framework for optimising development of theTGT field beyond the currentlyapproved field development plan; assuming no further activity on the field beyond 2015 or changes to infrastructure or FPSO capacity,

News Review Vietnam

the modelled estimated recovery is 193 MMBO (inclusive of H5N and H5S).

• In addition, ERCE identified several small undrilled closures during the field remapping. These closures together may contain an estimated most likely STOIIPof 17 MMBO.

In 2013, SOCO retained ERCEquipoise to build a DynamicSimulation Model of the TGT field.In 2014, this engagement wasexpanded to include theintegration of a new GeologicalModel. The Geological Model wasintegrated into a revised DynamicSimulation Model for a technicalevaluation of the TGT resources.Upon completion of the historymatch and H5 area additions, thesimulation model was set up torun a series of forecasts aimedat evaluating the ultimate oilvolume recoverable given variouslevels of development drilling andpressure maintenance by waterinjection under various FPSO andalternative liquid handlingoptions.

At this time, the Hoang Long JointOperating Company ("HLJOC")partners are evaluating the 2015work programme and budget, aswell as preparing an update tothe TGT Field Development Plan("FDP") for submission to therelevant Vietnamese authorities.The updated FDP will incorporatethe development plans for theTGT field beyond 2015. Theconclusions of the ERCE work willbe shared with the HLJOCpartners as part of this processas the work suggests asubstantial gain in oil recoverycan be achieved by way ofimprovements to the TGT fieldliquid handling capacity, infilldrilling and optimised pressuresupport.

Malaysia'sSapuraKencana buysPETRONAS' blocksoffshore VietnamNovember 2014

SapuraKencana Petroleum,Malaysia's largest listed oil andgas services firm by marketcapitalisation, is buying state oilfirm PETRONAS' entire interestin 3 blocks offshore southernVietnam for $400 million.Theeconomic effective date of thetransaction is Jan. 1, 2014 andSapuraKencana is entitled to netrevenue from these blocks fromthen, the Kuala Lumpur-basedcompany said in a press releaseon late Thursday.

' T h e t r a n s a c t i o n g i v e sSapuraKencana an immediatefoothold in the promising oilprovinces offshore Vietnam withcash generating assets that willbe earnings accretive to thegroup,' Chief Executive OfficerShahril Shamsuddin said in astatement.

Shares in SapuraKencana ended0.65 percent higher at 3.10ringgit, before the announcementwas released. The stock hasdropped 37 percent in the yearto date, underperforming thebenchmark stock index's 2.3percent fall.

Blocks being acquired are:Petroleum Contract for Blocks01/97 and 02/97, Cuu Long Basin(50% interest); ProductionSharing Contract for Blocks 10 &11.1, Nam Con Son Basin (40%);Production Sharing Contract forBlock 46 - Cai Nuoc, Malay - ThoChu Basin (36.845966%).

Eni signs two new PSC’sfor offshore explorationin VietnamOctober 2014

Eni signed two Production SharingContracts (PSCs) for theexploration of blocks 116 and124, located off the coast ofVietnam.Block 116 covers an area of about5,000 sqkm in the Song Hongbasin, in waters with a depthranging from 10 to 120 meters.The PSC block, wholly owned byEni, provides for an explorationperiod of seven years divided into3 phases.

Block 124 covers an area of 6,000sqkm in the Phu Khanhbasin, inwaters that have a depth rangingfrom 50 to 2,600 meters. ThePSC provides for an explorationperiod of seven years divided into2 phases. This block is held byEni, which is the operator with a60% stake, and by SantosVietnam with a 40% stake.Claudio Descalzi also met HoangTrung Hai, Deputy Prime Ministerwith responsibility for Trade,Industry, Construction andTransport, and provided him withan update of the activities andprojects that the Company isdeveloping in the Country.

"The participation in these twonew high-potential blocks willconsolidate our presence in thearea and support our growth inthe Pacific basin. The proximityof these blocks to those whichwe already operate will enableus to exploit at best the logisticaland operational synergies, withconsiderable savings in terms oftime and costs" said Eni's CEO.

These new agreements confirmEni's interest to continue andconsolidate its presence inVietnam, where the companyreturned in 2012 and alreadyoperates four offshore explorationblocks.

News Review Vietnam

AziPac announces farm-in agreement withMitra Energy for a 25%interest in Block 127PSC, offshore VietnamAugust 2014

AziPac, the Seacrest CapitalGroup backed E&P companyfocussed on offshore explorationin the Asia Pacific and Bay ofBengal regions, has announcedthe acquisition of a 25% interestin the Block 127 PSC, offshoreVietnam.

AziPac, through its subsidiaryAzimuth Vietnam, has signed afarm-in agreement with MitraEnergy, the operator, for a 25%participating interest in Block 127PSC, offshore Vietnam. As partof the deal, AziPac will pay aworking interest share of theapproved past costs and carrypart of Mitra's costs of acquisitionand processing of a 3D seismicsurvey, scheduled to be acquiredin the second half of 2014.Acquisition of the 3D survey willcomplete the work programmeobligations for the currentExploration Phase which expireson 24 May, 2016.

Block 127 is located in the PhuKhanh Basin, off the SE coast ofVietnam. The basin remainsrelatively underexplored andrecent 2D seismic confirms thepotential of the basin in terms ofprospectivity.

Upon completion of the farm-in,the participating interests in theBlock 127 PSC will be as follows:Mitra Energy (Vietnam PhuKhanh) Pte Ltd 75%; AzimuthVietnam Limited 25%.

Frank Inouye, Managing Directorof AziPac, commented: ‘We arevery pleased to have acquired aninterest in this highly prospectivelicence in one of the most excitinghydrocarbon exp lo ra t ionprovinces in the world. Vietnam

has experienced a renaissancein E&P activity recently and welook forward to working with MitraEnergy to fully evaluate thisblock. Block 127 is the secondasset AziPac has acquired sincewe created the company earlierthis year. Along with our interestin the Bone PSC in Indonesia, wehave what we believe to be asolid platform for future growthin the region.'

News Review Vietnam

Scope of Coverage Asia/Far East

Country Energy Summary(number of pages)

FeaturedOil Companies

Oil/Gas ServiceCompany Review

Total no.of pages

Bangladesh 1 11 - 19

Brunei 2 7 - 15

Cambodia 6 14 - 23

China 7 22 Yes 58

India 6 36 - 58

Indonesia 6 69 - 115

Japan 2 4 - 12

Korea, South 4 3 - 12

Malaysia 6 19 Yes 49

Mongolia 3 7 - 20

Myanmar 2 37 Yes 46

Pakistan 4 27 - 46

Philippines 2 19 - 43

Tajikistan 3 8 - 22

Thailand 8 22 Yes 60

Vietnam 8 32 Yes 74

Total 70 336 672

American Energy Group x x x x x x x x x x x x x x x x xAnadarko x x x x x x x x x x x x x x x x xAWE x x x x x x x x x x x x x x x x xAziPac x x x x x x x x x x x x x x x x x

Bapex x x x x x x x x x x x x x x x x xBashneft x x x x x x x x x x x x x x x x xBengal Energy x x x x x x x x x x x x x x x x xBG Group x x x x x x x x x x x x x x x x xBHP Billiton x x x x x x x x x x x x x x x x xBlack Platinum Energy x x x x x x x x x x x x x x x x xBP x x x x x x x x x x x x x x x x xBSPC x x x x x x x x x x x x x x x x x

Cairn India x x x x x x x x x x x x x x x x xCanoel x x x x x x x x x x x x x x x x xCanoro Resources x x x x x x x x x x x x x x x x xCBM Asia x x x x x x x x x x x x x x x x xChevron x x x x x x x x x x x x x x x x xCITIC x x x x x x x x x x x x x x x x xCNOOC x x x x x x x x x x x x x x x x xCNPC x x x x x x x x x x x x x x x x xCoastal Energy x x x x x x x x x x x x x x x x xConoco Phillips x x x x x x x x x x x x x x x x xCooper Energy x x x x x x x x x x x x x x x x xCue Energy x x x x x x x x x x x x x x x x xCPHL (Cambodia) Company x x x x x x x x x x x x x x x x x

Daewoo International x x x x x x x x x x x x x x x x xDart Energy x x x x x x x x x x x x x x x x xDewan Petroleum x x x x x x x x x x x x x x x x x

East West Petroleum x x x x x x x x x x x x x x x x xEni x x x x x x x x x x x x x x x x xEnQuest x x x x x x x x x x x x x x x x xEssar Oil x x x x x x x x x x x x x x x x xExxonMobil x x x x x x x x x x x x x x x x x

Far East Energy x x x x x x x x x x x x x x x x xFocus Energy x x x x x x x x x x x x x x x x xFortune Oil x x x x x x x x x x x x x x x x xFrontier Oil x x x x x x x x x x x x x x x x x

GAIL x x x x x x x x x x x x x x x x xGazprom International x x x x x x x x x x x x x x x x xGenie Oil & Gas x x x x x x x x x x x x x x x x xGeoGlobal Resources x x x x x x x x x x x x x x x x xGeopetrol x x x x x x x x x x x x x x x x xGreen Dragon Gas x x x x x x x x x x x x x x x x xGS Energy x x x x x x x x x x x x x x x x xGSPC x x x x x x x x x x x x x x x x x

Hardy Oil & Gas x x x x x x x x x x x x x x x x xHarvest Natural Resources x x x x x x x x x x x x x x x x xHBOil x x x x x x x x x x x x x x x x xHeritage Oil x x x x x x x x x x x x x x x x xHess x x x x x x x x x x x x x x x x xHindustan Oil Exploration x x x x x x x x x x x x x x x x xHorizon Oil x x x x x x x x x x x x x x x x xHusky Energy x x x x x x x x x x x x x x x x x

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Idemitsu x x x x x x x x x x x x x x x x xIGas x x x x x x x x x x x x x x x x xINPEX x x x x x x x x x x x x x x x x xInterra Resources x x x x x x x x x x x x x x x x xIPR Transoil Corporation x x x x x x x x x x x x x x x x xIvanhoe Energy x x x x x x x x x x x x x x x x x

JAPEX x x x x x x x x x x x x x x x x xJindal Petroleum x x x x x x x x x x x x x x x x xJubilant Energy x x x x x x x x x x x x x x x x xJura Energy x x x x x x x x x x x x x x x x xJVPC x x x x x x x x x x x x x x x x xJX Nippon Oil & Gas Exploration x x x x x x x x x x x x x x x x x

Kairki Energy x x x x x x x x x x x x x x x x xKNOC x x x x x x x x x x x x x x x x xKOGAS x x x x x x x x x x x x x x x x xKrisEnergy x x x x x x x x x x x x x x x x xKRX Energy x x x x x x x x x x x x x x x x xKUFPEC x x x x x x x x x x x x x x x x xKuwait Energy x x x x x x x x x x x x x x x x x

Lapindo Brantas x x x x x x x x x x x x x x x x xLeyshon Resources x x x x x x x x x x x x x x x x xLion Energy x x x x x x x x x x x x x x x x xLundin Petroleum x x x x x x x x x x x x x x x x x

Manas Petroleum x x x x x x x x x x x x x x x x xMari Energy x x x x x x x x x x x x x x x x xMercator x x x x x x x x x x x x x x x x xMedco Energi x x x x x x x x x x x x x x x x xMirach Energy x x x x x x x x x x x x x x x x xMitra Energy x x x x x x x x x x x x x x x x xMitsubishi Energy x x x x x x x x x x x x x x x x xMitsui Oil Exploration Com x x x x x x x x x x x x x x x x xMOL x x x x x x x x x x x x x x x x xMubadala Oil & Gas x x x x x x x x x x x x x x x x xMurphy Oil x x x x x x x x x x x x x x x x xMyanma Oil & Gas Enterprise x x x x x x x x x x x x x x x x xMyanmar Petroleum Resources x x x x x x x x x x x x x x x x x

NAFTOGAZ x x x x x x x x x x x x x x x x xNeon Energy x x x x x x x x x x x x x x x x xNew Horizon E&P x x x x x x x x x x x x x x x x xNewfield Exploration x x x x x x x x x x x x x x x x xNew Zealand Oil and Gas x x x x x x x x x x x x x x x x xNido Petroleum x x x x x x x x x x x x x x x x xNiko Resources x x x x x x x x x x x x x x x x xNippon x x x x x x x x x x x x x x x x xNobel x x x x x x x x x x x x x x x x xNuEnergy x x x x x x x x x x x x x x x x xNew Horizon E&P x x x x x x x x x x x x x x x x x

Ocean Pakistan x x x x x x x x x x x x x x x x xOctanex x x x x x x x x x x x x x x x x xOGDCL x x x x x x x x x x x x x x x x x

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Oil India x x x x x x x x x x x x x x x x xOilex x x x x x x x x x x x x x x x x xOmkar Natural Resources x x x x x x x x x x x x x x x x xOMV x x x x x x x x x x x x x x x x xONGC x x x x x x x x x x x x x x x x xOphir Energy x x x x x x x x x x x x x x x x xOrigin Energy x x x x x x x x x x x x x x x x x

Pakistan Oilfields x x x x x x x x x x x x x x x x xPakistan Petroleum x x x x x x x x x x x x x x x x xPan Pacific Petroleum x x x x x x x x x x x x x x x x xPerenco x x x x x x x x x x x x x x x x xPetroChina x x x x x x x x x x x x x x x x xPetrogas x x x x x x x x x x x x x x x x xPetronas x x x x x x x x x x x x x x x x xPetroleumBRUNEI x x x x x x x x x x x x x x x x xPetro Matad x x x x x x x x x x x x x x x x xPETRONAS x x x x x x x x x x x x x x x x xPetrovietnam x x x x x x x x x x x x x x x x xPGN x x x x x x x x x x x x x x x x xPitkin Petroleum x x x x x x x x x x x x x x x x xPremier Oil x x x x x x x x x x x x x x x x xPrimeline Energy x x x x x x x x x x x x x x x x xPrize Petroleum x x x x x x x x x x x x x x x x xPT Energi x x x x x x x x x x x x x x x x xPT.Istech Resources x x x x x x x x x x x x x x x x xPTTEP x x x x x x x x x x x x x x x x x

Quad Energy x x x x x x x x x x x x x x x x x

Rally Energy x x x x x x x x x x x x x x x x xRamba Energy x x x x x x x x x x x x x x x x xReliance Industries x x x x x x x x x x x x x x x x xRepsol x x x x x x x x x x x x x x x x xRH Petrogas x x x x x x x x x x x x x x x x xRift Basin Resources x x x x x x x x x x x x x x x x xRoc Oil x x x x x x x x x x x x x x x x x

Saif Energy x x x x x x x x x x x x x x x x xSaka Energi Indonesia x x x x x x x x x x x x x x x x xSalamander Energy x x x x x x x x x x x x x x x x xSantos x x x x x x x x x x x x x x x x xSapuraKencana x x x x x x x x x x x x x x x x xSerinus Energy x x x x x x x x x x x x x x x x xShaanxi Yanchang x x x x x x x x x x x x x x x x xShell x x x x x x x x x x x x x x x x xSherritt International x x x x x x x x x x x x x x x x xSilver Wave Energy x x x x x x x x x x x x x x x x xSingapore Petroleum x x x x x x x x x x x x x x x x xSinopec x x x x x x x x x x x x x x x x xSK Innovation x x x x x x x x x x x x x x x x xSOCO x x x x x x x x x x x x x x x x xSona Petroleum x x x x x x x x x x x x x x x x xStar Energy x x x x x x x x x x x x x x x x xStatoil x x x x x x x x x x x x x x x x xSugih Energy x x x x x x x x x x x x x x x x x

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Talisman Energy x x x x x x x x x x x x x x x x xTap Oil x x x x x x x x x x x x x x x x xTately N.V. x x x x x x x x x x x x x x x x xTotal x x x x x x x x x x x x x x x x xTrakker Energy x x x x x x x x x x x x x x x x xTriangle Energy x x x x x x x x x x x x x x x x xTullow Oil x x x x x x x x x x x x x x x x x

United Energy Pakistan x x x x x x x x x x x x x x x x xUNOG x x x x x x x x x x x x x x x x xVICO Indonesia x x x x x x x x x x x x x x x x xVietgazprom x x x x x x x x x x x x x x x x x

Wolf Petroleum x x x x x x x x x x x x x x x x xWoodside Petroleum x x x x x x x x x x x x x x x x x

Xstate Resources x x x x x x x x x x x x x x x x x

Yanchang Petroleum x x x x x x x x x x x x x x x x x

Zarubezhneft x x x x x x x x x x x x x x x x xZaver Petroleum x x x x x x x x x x x x x x x x x

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4. Asia / Far East

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Africa

AngolaBeninBurundiCameroonChadComorosCongo, RepublicCongo, DRCote d'IvoireDjiboutiEquatorial GuineaEritreaEthiopia GabonGambia GhanaGuineaGuinea-Bissau KenyaLiberia MadagascarMalawiMaliMauritaniaMozambiqueNamibiaNigerNigeria Rwanda Sao Tome & PrincipeSenegalSeychelles Sierra LeoneSomaliaSomalilandSouth AfricaSudan & South SudanTanzaniaTogo UgandaWestern Sahara Zambia

North Africa

AlgeriaEgyptLibyaMoroccoTunisia

Asia / Far East

AustraliaBangladeshBruneiCambodiaChinaIndiaIndonesiaJapanKorea, SouthMalaysiaMongoliaMyanmarNew ZealandPakistanPapua New GuineaPhilippinesSri LankaTajikistanThailandVietnam

East Europe

AlbaniaBulgariaCroatiaHungaryMontenegroPolandRomania SerbiaSlovenia

Europe / Mediterranean

AustriaCyprusDenmarkFranceGermanyGreeceIrelandItalyMaltaNetherlandsNorwayPortugalSpainTurkeyUnited Kingdom

Middle East

AfghanistanBahrainIranIraqIsraelJordan KuwaitOmanQatarSaudi ArabiaSyriaUnited Arab EmiratesYemen

Russia / FSU

ArmeniaAzerbaijanBelarusEstoniaGeorgiaKazakhstanKyrgyzstanLatviaLithuaniaMoldovaRussiaTurkmenistanUkraineUzbekistan

South America

ArgentinaBoliviaBrazilChileColombiaEcuadorFalkland IslandsFrench GuianaGuyanaNicaraguaParaguayPeruSurinameUruguayVenezuela

Central America

BahamasBelizeCubaGuatemalaHondurasMexicoTrinidad & Tobago

Scope of Countries and Regions

Oil & Gas Country Reviews

Disclaimer

The information in this report were gathered and researched from sources believedto be reliable and are written in good faith. EKFi Ltd cannot be held liable for data,which might not be complete, accurate or up-to-date; nor for data which are frominternet pages/sources on which EKFi Ltd do not have any influence. The informationin this report does not have a legal or juridical character, unless specifically noted.

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