Eyes of the Fleet

Eyes of the Fleet

Saturday, April 29, 2006

Major oil field off Vietnam: Wonder how you say "oil bidness" in Vietnamese?

Reported here
A drillstem test of a well on the Te Giac Trang (TGT) structure on Block 16-1 off southern Vietnam confirmed the discovery of what SOCO International PLC, London, calls "a major oil field."
Logs indicated about 68 m of net pay in the LBH 5.2 sand and about 6 m of net pay in the Lower Oligocene C interval, which wasn't tested.
SOCO said the TGT structure comprises five fault blocks extending over 15 km on a north-south trend within an 80 km long play fairway that extends along the eastern and southern porti on of Block 16-1.
SOCO is described as
SOCO is an international oil and gas exploration and production company, headquartered in London traded on the London Stock Exchange and a constituent of the FTSE 250 Index. The Company has continuing interests in Vietnam, Yemen, Thailand and the Republic of Congo with ongoing production operations in Yemen.
Nothing but the best neighborhoods for SOCO.

UPDATE: You might note from the map (click to enlarge) that China lays claim to a large chunk of the South China Sea. As oil and gas fields are developed, additional conflicts in the area over natural resources are almost inevitable...

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