Eni SpA to Start Drilling Offshore Vietnam in June

Jan 24, 2013- taly's Eni SpA (E) is expected to start exploratory drilling in a block offshore Vietnam in June this year as it seeks to expand its operations in Southeast Asia, Vietnam Oil and Gas Group, or Petrovietnam, said Thursday.

Eni has been awarded rights to participate in blocks 114, 120 and 105-110/04 offshore Vietnam, Petrovietnam said in a statement. It didn't say which block Eni will drill in June.

Petrovietnam said it signed an agreement earlier this week with Eni to cooperate in oil and gas exploration and production projects in Vietnam and other countries, including Venezuela and Mozambique.

Eni has shown an interest in other blocks offshore Vietnam, including 122, 102/10 and 106/10 and 101-100/4, as well as Block M2 in Myanmar, Petrovietnam said, adding that Eni also wants to invest in gas infrastructure in Vietnam.

Write to Vu Trong Khanh at trong-khanh.vu@dowjones.com

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