Vietnam initially snubs SOCO's offshore extension request on Te Giac Den

Source: SOCO International

SOCO International (LON:SIA) applied for an extension to the Te Giac Den Appraisal Area license in the Cuu Long Basin offshore Vietnam. The Company has been informed by the Hoang Long Joint Operating Company (JOC), the Operator of Block 16-1 in the Cuu Long Basin offshore Vietnam, that the initial response from the Government's Ministry of Industry and Trade was not supportive of an extension to the license.

However, the JOC intends to further pursue the extension request and will make clear the case that the JOC's level of geological knowledge of the appraisal effort is the most expedient route to unlocking this vast potential resource, thus providing the most immediate benefit to Vietnam.

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