Soco Spuds Appraisal Well Offshore Vietnam
SOCO Vietnam has spudded the second well on the Te Giac Trang ("TGT") structure on Block 16-1 in the Cuu Long Basin offshore Vietnam. The TGT-2X well spudded on January 18th after an extended weather delay while waiting to be towed from the Ca Ngu Vang-4X well, which was temporarily suspended in December.
The TGT-2X well is an up-dip appraisal well to the discovery well, the TGT-1X that tested at a rate of 9,432 barrels of oil equivalent per day. It will be the fourth well in the multi-well drilling program which began in 2005 in Vietnam. The rig will return to Block 9-2 following completion of the appraisal program in Block 16-1.
SOCO holds its interests in Vietnam, all in the Cuu Long Basin offshore, through its 80% owned subsidiary SOCO Vietnam Ltd ("SOCO Vietnam"). SOCO Vietnam holds a 25% working interest in Block 9-2, which is operated by the Hoan Vu Joint Operating Company and a 28.5% working interest in Block 16-1, which is operated by the Hoang Long Joint Operating Company.
SOCO is an international oil and gas exploration and production company, headquartered in London traded on the London Stock Exchange and a constituent of the FTSE 250 Index. The Company has continuing interests in Vietnam, Yemen, Thailand and the Republic of Congo with ongoing production operations in Yemen.