SOCO hits in block 16-1 off Vietnam

July 22, 2013

SOCO International announced that its TGT-10X exploration well in Te Giac Trang (TGT) field in block 16-1 off southern Vietnam cut 117m of net pay (250m gross pay), after drilling to 4226m MD. This is the first well drilled into the Oligocene D2 section in the H5 fault block of the field. The well is located about six kilometers south of the H4 well head platform, in the southern part of TGT Field in the Cuu Long Basin of Vietnam.

The well required higher than expected mud weight due to higher formation pressure than predicted, so a liner will be run over the Miocene and Oligocene reservoir horizons. The remainder of the well will be drilled with a 6-in. bit to 4430m total depth.

SOCO holds its Cuu Long Basin interests through its wholly-owned subsidiaries, SOCO Vietnam Ltd. and OPECO Vietnam Ltd. Block 16-1 is operated by the Hoang Long Joint Operating Co., a partnership of Petrovietnam (41%), PTTEP (28.5%), SOCO international (28.5%), and OPECO (2%). TGT field is operated by Hoang Long JOC (50%) with SOCO holding the remaining 50%.  



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