TGD partners argue license extension

Hoang Long Joint Operating Co. (JOC) so far has failed to gain an extension for the Te Giac Den Appraisal Area License in the Cuu Long basin.

Offshore staff

LONDON -- Hoang Long Joint Operating Co. (JOC) so far has failed to gain an extension for the Te Giac Den Appraisal Area License in the Cuu Long basin.

Partner SIOCO International says Vietnam’s Ministry of Industry and Trade has not been supportive of the application.

However, the JOC, which operates block 16-1 containing the Appraisal Area, plans to persevere with the extension request.

It will argue that its geological knowledge of the appraisal effort is the best way of unlocking TGD’s resources, and therefore providing the most immediate benefit to Vietnam.

01/10/2011

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