TGT installations coming together offshore Vietnam

SOCO International has provided an update on its activities in the Cuu Long basin off southern Vietnam, where the company is involved in two development projects and one exploration campaign.

Offshore staff

LONDON -- SOCO International has provided an update on its activities in the Cuu Long basin off southern Vietnam, where the company is involved in two development projects and one exploration campaign.

In block 16-1, the partners are targeting first oil from the Te Giac Trang (TGT) field in mid-2011, with output of around 50,000 b/d from the first-phase development. They have issued tenders for various long lead items. Conversion of the FPSO is under way in Singapore. The project’s initial unmanned platform, also under construction, should be installed during 3Q 2010 on the northernmost H1 fault block. Development drilling will star from this platform shortly afterwards.

SOCO is also involved in the TGD Appraisal Area in the same block, a 150-sq km (58-sq mi) area that includes the high pressure/ high temperature discovery well, TGD-1X-ST1, on Prospect E and the analogous E South Prospect. This area borders the TGT field’s southern boundary.

The company is finalizing negotiations for a drilling rig which should spud the TGD-2X well in early June. This will target iP50 reserves of around 100 MMbbl in the supra-volcanics interval tested briefly by the discovery well.
In block 9-2, Phase II development drilling on the Can Ngu Vang field began in April with the spudding of well CNV-6P-ST1. This will be converted to a water injector, as exploitation of the Basement field requires early water flooding in order to attain plateau production and avoid gas breakthrough. In the meantime, production has been scaled back to maintain adequate reservoir pressure.

05/17/2010

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