Soco tests Vietnam well

Soco International has tested its appraisal well on the Ca Ngu Vang structure on block 9-2 offshore Vietnam. The CNV-3X well tested water-free at a maximum combined rate of 13,040 boe/d, comprised of 9,010 b/d and 22.6 MMcf/d.

Offshore staff

Soco International has tested its appraisal well on the Ca Ngu Vang structure on block 9-2 offshore Vietnam. The CNV-3X well tested water-free at a maximum combined rate of 13,040 boe/d, comprised of 9,010 b/d and 22.6 MMcf/d.

The operator conducted the final unstimulated open-hole test over a 12-hour period from a Basement interval of approximately 2,000 m. Spudded on Jan. 30, Soco drilled the well to 4,426 m TVD at an average angle of 82° from vertical through the Granitic Basement. The operator drilled CNV-3X to 6,123 m TMD making it the longest TMD well to be drilled in Vietnam.

Soco will suspend the well as a potential producer and the rig will move to drill the Te Giac Trang prospect on block 16-1. This initial exploration well, the TGT-1X, will test the Oligocene interval in a previously undrilled part of block 16-1. It is the second well in the four to six well drilling program scheduled for Vietnam this year.

"The results of the CNV-3X well were outstanding," Ed Story, president and CEO of Soco, says. "This demonstrates the technical competence of our team and proves that the complexities of Basement exploration and development can be solved by rigorous adherence to enhanced seismic reprocessing and through careful planning and execution in drilling. We expect that these successful results will lead to an early declaration of commerciality. Vietnam is clearly a core area for Soco and we expect to join the ranks of significant producers there."

05/23/05

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