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.