Pharos gets go-ahead for TGT modifications offshore Vietnam
Jan. 17, 2024
Vietnam’s government has approved Hoang Long Joint Operating Co.’s revised development plan for the TGT Field offshore the Nam Con Son Basin.
Courtesy Pharos Energy
The TGT Field is located in Block 16-1 offshore Vietnam in the shallow-water Cuu Long Basin, about 100 km from Vung Tau.
Offshore staff
LONDON — Vietnam’s government has approved Hoang Long Joint Operating Co.’s revised development plan for the Te Giac Trang (TGT) Field in Block 16-1 in the offshore Nam Con Son Basin, according to partner Pharos Energy in a brief update.
TGT, which came onstream in 2011, produces oil and gas. The oil heads through a subsea pipeline to a nearby leased FPSO, while the gas is processed at nearby offshore facilities and then sent through another pipeline to southern Vietnam to meet domestic needs.
The partners in the nearby Ca Ngu Vang Field (Block 9-2) are also reviewing a revised development plan. The government and PetroVietnam are considering five-year extension proposals for both licenses.
Pharos has secured a two-year extension to the PSC for blocks 125 and 126 offshore eastern Vietnam.
A competent persons report for Block 125, published last July, confirmed unrisked prospective oil resources in the range of 1.178 Bbbl to 29.785 Bbbl.
