LONDON – SOCO International has issued an update on its development programs at the TGT field offshore southern Vietnam.
TGT is in the northeast part of block 16-1, operated by Hoang Long Joint Operating Co. (HLJOC) – SOCO 30.5% – currently produces from three platforms with 26 producing wells and one injector.
A first full draft is under way of a proposed full-field development beyond 2016 which includes assessments of reserves and simulation, field development options, and additional wells and facilities to increase water-handling capacity.
In parallel, the HLJOC partners are evaluating how production from TGT could be increased from the existing wells by perforating additional horizons, optimizing reservoir management by shutting off higher water-cut wells, and infill well locations.
Following the signing of a memorandum of understanding last year, SOCO received approval from Vietnam’s government in May to start formal negotiations with PetroVietnam and SOVICO Holdings over a production-sharing agreement for blocks 125/126 offshore central Vietnam. The company is targeting completion before year-end.
Both bocks are in moderate to deepwater in the Phu Khanh basin, north of the Cuu Long basin, with multiple structural and stratigraphic plays observed on available seismic. Interpretation also suggests potential for source, expulsion, and migration of oil with numerous reservoir and seal intervals likely.
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