SOCO International Company News

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SOCO: Congo Baobab Marine-1 Well Comes up Dry
Friday, February 26, 2016SOCO International plc announces that the Baobab Marine-1 commitment well has come up dry.

British Oil Company Soco Says No Longer Holds Congo Block Permit
Tuesday, November 03, 2015Soco International says it no longer holds the exploration licence for a block in eastern Democratic Republic of Congo.

SOCO Net Profit, Production Down
Wednesday, August 05, 2015SOCO reveals that its net profit and production for the first half of 2015 decreased, compared to the same period last year.

Oil producer Soco Profits Halve, Shares Tumble
Thursday, March 12, 2015Oil producer Soco International reports a 54 percent decline in annual profit after being hit by the slump in oil prices.

Soco Cuts 2015 Investment Budget to Focus on Vietnam, Africa
Thursday, January 29, 2015Oil producer Soco International reduces its 2015 capital expenditure budget by more than 60 percent versus last year and will focus on projects in Vietnam and Africa, the company says.

SOCO Optimistic About Production Potential of Vietnam's Offshore TGT Field
Wednesday, December 10, 2014ERC Equipoise assesses that the Te Giac Trang field in Block 16-1 in Vietnam's Cuu Long Basin can produce over 100,000 barrels of oil per day.

First Oil from H5 Development in Te Giac Trang Field Planned for 2H 2015
Friday, November 14, 2014Soco reports that first oil from the H5 development project in Te Giac Trang field offshore Vietnam is targeted for the second half of 2015.

Soco International Cuts Full-Year Production Guidance
Thursday, November 13, 2014Africa-focused Independent oil explorer lowers its production guidance for 2014 to between 13,300 and 13,800 barrels of oil per day.

SOCO's Congo Well 'Significantly Exceeds' Expectations in Test
Tuesday, November 04, 2014SOCO International says its Lidongo Marine 101 ST1 exploration well, offshore Congo, 'significantly exceeded' expectations on testing.

Oil Firm Soco To Begin Seismic Testing In Congo's Virunga Park
Wednesday, April 23, 2014Soco International will start seismic tests this weekend in Democratic Republic of Congo's Lake Edward, an executive says.

SOCO Buys into Offshore Congo Permit
Monday, November 04, 2013SOCO International agrees to buy a 60-percent stake in, and operatorship of, the Mer Profonde Sud permit offshore Congo.

SOCO Completes Testing at TGT-10XST1 Well in Block 16-1 off Vietnam
Thursday, October 03, 2013SOCO completes testing at the TGT-10XST1 well in Block 16-1 in the Cuu Long Basin off Vietnam, with the results exceeding expectations.

SOCO Updates on Drilling Operations in Vietnam, Congo and Angola
Thursday, September 26, 2013SOCO provides an operational update on its assets in Vietnam, Congo and Angola.

SOCO Updates on Drilliing Operations
Tuesday, July 23, 2013SOCO International updates on the company's drilling operations in Vietnam, Congo and Angola.

Drilling Begins at TGT-10X Well in Te Giac Trang Field
Friday, June 21, 2013SOCO reports that drilling has started at the TGT-10X well in the Te Giac Trang field off Vietnam.

SOCO Boosts FPSO Capacity Offshore Vietnam
Thursday, April 18, 2013SOCO says that the first test of an FPSO facility at its Te Giac Trang field, offshore Vietnam, has shown it can handle volumes in excess of 55,000 barrels per day.

Congo Violence Forces UK Oil Explorer to Halt Operations
Tuesday, September 25, 2012Renewed fighting between Congolese rebels and government forces has forced Soco to evacuate workers from its oil exploration camp in the country's restive eastern region, Ugandan police and the company said.

Imminent Exploration to Determine Pre-Salt Opportunity
Friday, March 09, 2012Investment bank Westhouse Securities has highlighted drilling by London-listed junior explorers as being important dates in the pre-salt calendar.

SOCO Comes Up Dry Offshore Congo
Tuesday, November 01, 2011The exploration well Mindou Marine-1, located offshore in Block Marine XI Congo (Brazzaville), did not encounter oil shows.

SOCO Spins Bit Offshore Vietnam
Wednesday, October 05, 2011SOCO announced that TGT Phase II development drilling operations have commenced offshore Vietnam with the spudding of the first well at the H4 wellhead platform by jackup PV Drilling I.

SOCO Spuds Well Offshore Congo-Brazzaville
Wednesday, September 07, 2011Lundin announced that drilling of the exploration well Mindou Marine-1, located offshore in Block Marine XI Congo-Brazzaville, has commenced.

SOCO, Partners Tame First Flow from Te Giac Trang Field
Monday, August 22, 2011SOCO announced the first flow of crude oil and wet gas from the Te Giac Trang Field ('TGT').

Hoang Long Expects to Start Production at Te Giac Trang in August
Thursday, March 03, 2011SOCO reported that JOC that it has completed drilling the four "batch" drilled development wells, and commenced drilling an eight development well on the Te Giac Trang development.

SOCO Encounters O&G Shows in Congo Nganzi Block
Monday, January 17, 2011SOCO announced that the wildcat exploration well Bayingu-1 in the Nganzi Block encountered oil and gas shows.

Vietnam Overlooks Exploration Extension Request Offshore Vietnam
Monday, January 10, 2011SOCO been informed by JOC that the initial response from the Government's Ministry of Industry and Trade was not supportive of an extension to the license.

SOCO Completes 3rd Development Well Offshore Vietnam
Monday, December 20, 2010SOCO's subsidiary DRC SPRL has spudded the wildcat exploration well Bayingu-1. SOCO also reported completing the third development well on the Te Giac Trang development.

SOCO Abandons 2nd DRC Well
Wednesday, October 27, 2010SOCO has reached total depth on the wildcat exploration well Kinganga Nyanya 1 in the Nganzi Block, onshore the Democratic Republic of Congo.

SOCO to Plug Vietnam Well on Low Flow Rates
Tuesday, October 12, 2010The Te Giac Den appraisal well, TGD-2X, will be plugged and abandoned, as it flowed at sub-commercial rates.

SOCO Drills Unsuccessful Well in Congo
Friday, September 03, 2010SOCO E&P encountered significant hydrocarbon shows at Nganga 1 well but petrophysical interpretation of the logs indicates that these sands are water bearing.

Hoang Long Joint Operating Hits Hydrocarbons Offshore Vietnam
Wednesday, September 01, 2010Hoang Long Joint Operating announced that appraisal well TGD-2X encountered hydrocarbons in the Cuu Long Basin.

Inpex to Take Stake in Congo Block
Wednesday, August 25, 2010Inpex has been granted approval by the authority of the Government of the Democratic Republic of Congo to acquire a 20% participating interest of the Nganzi Block with SOCO.

SOCO Updates Vietnam, Congo Ops
Thursday, August 19, 2010SOCO provided an update on its operations in Vietnam and the Democratic Republic of Congo.

Hoang Long Joint Operating Spins Bit Offshore Vietnam
Thursday, July 22, 2010Hoang Long Joint Operating Company has secured a jackup drilling rig to commence the first phase of the Te Giac Trang field development and appraisal well drilling program.

Salamander to Acquire Remaining Interest in Gulf of Thailand License
Tuesday, July 20, 2010Salamander's subsidiary, Salamander Bualuang, has reached agreement with SOCO International to purchase SOCO Thailand.

SOCO to Farm-Out Congo Block
Thursday, July 15, 2010SOCO has entered into a farm-out agreement wherein it has agreed to farm-out a 20% interest in the Nganzi Block to INPEX.

SOCO Granted Presidential Decree for Congo Block
Monday, June 28, 2010SOCO reported that the Production Sharing Agreement for Block 5 in the Democratic Republic of Congo (DRC) has received the Presidential Decree.

Maersk Convincer Secured for Offshore Vietnam Basin
Friday, May 21, 2010SOCO has been informed the jack up rig Maersk Convincer has been secured to drill the Te Giac Den 2X appraisal well.

SOCO Notes 'Most Active Drilling Program in History'
Monday, May 17, 2010SOCO posted its Interim Management Statement for the period from January 1, 2010 to May 17, 2010 detailing its operations in south east Asia and Africa.

SOCO Secures Rig for Congo Block
Monday, April 19, 2010SOCO has secured the services of the onshore drilling rig, Caroil #1, for its exploration drilling program in the Nganzi Block, onshore the Democratic Republic of Congo.

Offshore Resolute Spins Bit Offshore Vietnam
Tuesday, April 06, 2010SOCO has been informed by the Hoan Vu Joint Operating Company that the second phase of development has begun on the Ca Ngu Vang oil and gas field.

SOCO: 2009 Marked Strongest Results to Date
Wednesday, March 24, 2010"2009 are our strongest results to date, marked by start up of activities on our largest development project, record cash position and successful launch of our exploration program," commented Chief Executive Ed Story.

SOCO Tests Positive Oil, Gas Flows in Marine XI Block
Monday, November 23, 2009The Viodo Marine 4 vertical appraisal well located in the Marine XI Block offshore the Republic of Congo has tested at a combined maximum flow rate of approximately 2,600 bopd and 7 mmscfd following two drill stem tests.

Viodo Appraisal Well Spudded in Congo Basin's Marine XI Block
Monday, September 21, 2009SOCO announced the spudding of the Viodo 4 appraisal well, located in the Marine XI Block offshore the Republic of Congo.

Vietnam Govt Gives Green Light for Offshore Te Giac Trang Devt
Monday, September 21, 2009The Ministry of Industry and Trade, on behalf of the Vietnamese Government, has approved the Development Plan for the Te Giac Trang field, operated by the Hoang Long Joint Operating Company.

Pride Cabinda Moves On from Plugged Well in Congo Basin
Tuesday, September 08, 2009The Liyeke Marine 1 well, spudded on August 22, 2009 in the Marine XI Block, located in the Congo Basin, offshore the Republic of Congo, was plugged and abandoned after reaching a total depth of 1,140 meters.

Lundin Spuds Liyeke Marine-1 Offshore Congo
Monday, August 24, 2009Lundin Petroleum AB (Lundin Petroleum) on Monday announced that drilling of the exploration well Liyeke Marine-1, located in Block Marine XI Congo, has commenced.

SOCO Cites Strong Cash, Liquid Investment Balance Exiting 2Q
Wednesday, August 12, 2009"SOCO has continued to perform strongly, progressing its key development projects, increasing production and setting the stage for the most extensive exploration campaign in the Company's history," said Chief Executive Ed Story.

SOCO Makes Headway in African, Southeast Asian Operations
Wednesday, August 12, 2009SOCO will begin drilling in Congo this month, and the company is awaiting final regulatory approval for its Vietnam development projects.

SOCO Overviews Ongoing Operations in Southern Asia, Africa
Wednesday, May 13, 2009SOCO has presented its Interim Management Statement for the period from January 1, 2009 to May 12, 2009.

Vietnam OKs Block 16-1 Appraisal Areas in Cuu Long Basin
Wednesday, April 08, 2009SOCO International was informed by the operator of Block 16-1 in the Cuu Long Basin offshore Vietnam that the Vietnamese Government has approved the application for two appraisal areas within the block.