After months of suspension on claims by the Chinese govt that its field was located in Chinese territory, Repsol has reportedly agreed to transfer its 51.75% stake in the Ca Rong Do (Red Emperor) o&g project in block 07/03 to PetroVietnam. It will also release its 40% in blocks 135-136/03, also pressured by the Chinese since the latter intervened here 3 years ago. Both moves should be completed by end 2020.   Repsol had plans for 2 explo wells in 07/03, Nam Con Son Basin, prospects designated Cobia and Ca Rong Do NE. So far Repsol (op), partners PVEP, Mubadala + PetroVietnam.
After months of suspension on claims by the Chinese govt that its field was located in Chinese territory, Repsol has reportedly agreed to transfer its 51.75% stake in the Ca Rong Do (Red Emperor) o&g project in block 07/03 to PetroVietnam. It will also release its 40% in blocks 135-136/03, also pressured by the Chinese since the latter intervened here 3 years ago. Both moves should be completed by end 2020.