SOCO Provides Vietnam Drilling Update

Friday, May 4, 2007

SOCO International plc's majority owned subsidiary, SOCO Vietnam Ltd., announces that the Te Giac Cam (TGC-1X) well, the first well on Prospect "S" in Block 16-1, will be plugged and abandoned after reaching a total depth of 4,196 metres. While the reservoir in the primary target, the Lower Bach Ho 5.2 interval, was not developed, the well did encounter oil shows in the Oligocene and the well was deepened to further evaluate this section.

While drilling in the Oligocene, the well encountered unexpected high pressure, with associated oil and gas shows, and had to be cased using a 7 inch liner prior to drilling to total depth. Examination of the well and logging data indicated that, despite the hydrocarbon influx, it was not sufficiently encouraging for the well to be tested. However, overpressure in the Oligocene could be a positive indication for the Oligocene/Basement target on Prospect "E" approximately 17 kilometres to the southeast.

This rig will be released; however, a new rig, the Adriatic XI, is expected to arrive in June to continue exploration drilling on Block 16-1.

The PVD-1 drilling rig spudded the Te Giac Den (TGD-1X) well on Prospect "E" in Block 16-1 on 5 April 2007. This is the first well for the new rig retained primarily to drill development wells on the Ca Ngu Vang field on Block 9-2. The rig is currently drilling ahead at approximately 1,800 metres preparing to set 13 3/8" casing. The well is expected to take approximately 60 days to drill. A test, if required, would add approximately 30 days to the schedule.

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

Related News

Join 70,000 other oil and gas professionals

Network with others, build your profile, and receive the latest oil and gas news in your inbox. It's free!

Your details are never shared or sold. We hate spam too.

» More Jobs       » Upload a free Job       » Upload your CV

More Europe Jobs

More Global Jobs

Opinion & Commentary

  • Eight pieces of our oil price predicament
    A person might think that oil prices would be fairly stable. Prices would set themselves at a level that would be high enough for the majority of producers, so ...
  • Give us a break...
    I see that Oil & gas UK has been talking again about the need for George Osborne to ‘put his money where his mouth is’ (I paraphrase!) and change the fiscal terms operati ...
  • Why it's different this time
    Is this downturn in oil prices going to be different for investors? I think it might. In fact, I think North American energy companies have a good chance of withstanding th ...

» More Opinion & Commentary         » Write for us             RSS RSS

Oil & Gas Training

Mastering 4D Seismic
Ian Jack, London, 06 Nov 2014

Petroleum Geology of West Africa
Duncan Macgregor, London, 12 Nov 2014

Introduction to Contingency Planning: The value to oil and gas companies in high-risk areas
Mark Theobald, London, 18 Nov 2014

All Upcoming Training


Opinions & Commentary

Give us a break...

by David Bamford

Read More »