Soco International reports that after achieving the target depth of 6,123 meters measured depth, testing operations on the appraisal well on the Ca Ngu Vang ("CNV") structure on Block 9-2 offshore Vietnam, CNV-3X, have commenced. Due to its highly fractured nature the Granitic Basement reservoir was drilled with total losses of drilling fluid/seawater to the formation of more than 150,000 barrels.
The well was spud on January 30, 2005 and is located approximately 140 kilometers from Vung Tau province.
The initial period of the testing operations is currently being extended while the flow from the well continues to improve through the process of "cleaning up" whereby the amount of recovery of drilling fluid declines and the oil rate increases. The aim is to establish a stabilized flow performance. Testing operations are continuing.
PTTEP has 25% participation interest in the Vietnam 9-2 project. The other partners consist of SOCO Vietnam Limited, and Petrovietnam Exploration and Production Company with 25% and 50% interest respectively.
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