LONDON – SOCO International and its partners have approved a three-rig drilling program offshore southern Vietnam this year.
All three rigs have been contracted. The first, the Hercules Resilience, arrived on the TGT field last weekend. Activity is under way to bring the H5 accumulation onstream, probably during 3Q 2015.
SOCO points out that although TGT is in production, the field remains in the early stage of development. Also, the number and complexity of its oil-bearing reservoirs mean the partners must optimize the forward development plan to maximize oil recovery.
TGT has a structurally simple trap configuration, but consists of a complex series of more than 50 reservoirs. So far only around 4% of its estimated P50 in-place oil has been produced.
Plans over the next six years include drilling 35-45 more infill producer and injector wells, subject to Vietnam’s annual approval process. Also, SOCO says, individual reservoir optimization requires continuous management of producing intervals for each development well throughout the field.
Offshore Congo Brazzaville in West Africa, the company is close to concluding a rig contract for a relatively low risk prospect in the Marine XI block.