LONDON – Consultants ERC Equipoise (ERCE) have completed an evaluation of resources at the block 16-1 Te Giac Trang (TGT) field in the Nam Con Son basin offshore southern Vietnam.
According to TGT partner SOCO, the main findings were:
- Probable in-place volumes for drilled fault blocks of 818 MMbbl of oil, rising potentially to 949 MMbbl following drilling in 1Q 2015 of the H5N and H5S fault blocks
- Up to 319 MMbbl could be recovered within the anticipated license period that runs to 2030, based on the most likely case geological model (which includes H5N and H5S) and under a variety of potential development scenarios
- Reservoir modeling suggests unconstrained productions rates for the TGT facilities of more than 100,000 b/d, with potential to optimize development of the field beyond the currently approved plan
- ERCE also identified various small undrilled closures during field re-mapping that could collectively contain 17 MMbbl.
The Hoang Long Joint Operating Co. partners are evaluating their 2015 work program and budget and are preparing an update to the TGT field development plan for submission to the Vietnamese authorities. SOCO believes substantially more oil could be recovered via improvements to the field’s liquid handling capacity, infill drilling, and optimized pressure support.