SOCO assessing potential of offshore eastern Vietnam blocks

A new 2D seismic survey is expected to get under way in mid-year over blocks 125 and 126 offshore eastern Vietnam.

Offshore staff

LONDON – A new 2D seismic survey is expected to get under way in mid-year over blocks 125 and 126 offshore eastern Vietnam.

Both concessions are in moderate to deepwaters in the Phu Khanh basin, north of the Cuu Long basin: operatorSOCO International has interpreted multiple structural and stratigraphic plays on the existing 2D data-set, with good potential for source, expulsion, and migration of oil in the basin.

Offshore southern Vietnam, the joint venture for theTGT field development in block 16.1 has approved the 2019 work program and budget.

This includes two firm and two contingent in-field wells, 18 well interventions and upgrading of the gas compressors. Drilling will probably start late in 2019, SOCO said.

Last October thejackupHakuryu-II arrived at the field’s H5 wellhead platform, undertaking a successful re-drill of a reservoir section of the H5 South prospect, south of the main H5 area.

The rig then transferred to drill the TGT-31P well through the main reservoir sections, targeting the deeper high-pressure/high-temperature section below the main producing horizons at the platform.

Within the deep section the well encountered hydrocarbons in the D1 and E Oligocene targets, with oil flowing to surface under controlled conditions during a drillstem test.

The partners are assessing the data with a view to appraising further potential in equivalent deeper sections of the wider TGT area, to determine whether this new HP/HT play continues in the up-dip fault blocks to the north.

Following an extension to the bareboat charter for the FPSOArmada TGT 1, through Nov. 14, 2024, and a revised FPSO operations and maintenance agreement, the partners have achieved operating cost savings of more than $40 million.

03/07/2019

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