Vietnamese Government approves Te Giac Den, Voi Trang application

The Vietnamese Government has approved the application for the Te Giac Den (TGD) and Voi Trang (VT) appraisal areas within block 16-1.

Offshore staff

LONDON -- The Vietnamese Government has approved the application for the Te Giac Den (TGD) and Voi Trang (VT) appraisal areas within block 16-1.

The TGD appraisal area encompasses an area of 150 sq km (58 sq mi) including the HP/HT discovery well TGD-1X-ST1 on Prospect E, and the analogous E South Prospect. The area borders the southern boundary of the Te Giac Trang (TGT) field where field development plan approval is expected by June and first oil targeted for mid-2011.

Seismic reprocessing over the TGD appraisal area is currently underway with final results expected in September. Initial preparation work has started for drilling a TGD appraisal well in 2Q 2010.

The VT Appraisal Area, the award of which is conditional upon a successful Reserves Assessment Report of the commerciality of the previous discoveries in the awarded area, covers an area of 100 sq km (39 sq mi). A technical re-evaluation of the VT discovery well and the adjacent leads is ongoing, with preliminary results expected in June.

04/09/2009

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