First Oil from H5 Development in Te Giac Trang Field Planned for 2H 2015

UK-based Soco International plc provided an update of operations at the Te Giac Trang (TGT) field in Block 16-1 in the Cuu Long Basin offshore Vietnam when the firm released its interim management statement forJuly 1 to Nov. 12 Thursday.

Soco indicated that the H5 development project in TGT field is progressing well, with first oil scheduled for September or October 2015 after the firm and its partners in the Hoang Long Joint Operating Company (HLJOC) received approval for the field development plan Sept. 20.

The first phase of the H5 project was completed following installation of the H5-WHP (wellhead platform) Sept. 1, while drilling of the first development wells from the H5-WHP commenced Oct. 1. Soco added that the Naga-2 (350' ILC) jackup completed the TGT-22P well and is now batch-drilling the TGT-23P and -24P wells. Preliminary analysis of the drilling results of the TGT-22P well indicates a significantly higher distribution of oil in the upper portion of the Miocene reservoir and a more limited gas section than previously expected.

The joint venture has scheduled for Naga-2 to will drill a total of five to six H5 wells before leaving the platform next April to allow for the H5 topsides and production pipelines to be installed and hook-up and commissioning operations to commence for start-up in September or October 2015.

Meanwhile, the TGT field 2015 activities program and budget, as well as the production forecast, are expected to be approved by the HLJOC by the end of the year.

The joint venture partners is also continuing work to update the TGT Field Development Plan in order to submit it to the authorities in 1Q 2015. The key focus areas of the development plan include FPSO (floating production, storage and offloading) de-bottlenecking, increasing production and improving field recovery performance.


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