Offshore staff
(London) Soco Exploration Thailand has signed a production agreement with GFI Oil and Gas Thailand and TOPoil. This will allow the latter two companies to earn a working interest of up to 60% in the Bualuang oilfield in the Gulf of Thailand. The agreement is contingent on the completion of Phase I and II work programs, which involve respectively acquiring 100-km of 2D seismic and one well on the field, and drilling a further eight wells linked to a platform-based development. GFI would then succeed Soco as operator.
Offshore Vietnam, Soco has completed its latest exploration well on the Te Giac Trang (TGT) structure on Block 16. The company performed a dill stem test in the Miocene Lower Bach Ho 5.3 formation, which was also tested on last year's discovery well. The newly tested interval, perforated at a depth of 2,827 to 2,887 m, flowed at up to 9,908 b/d of 40.5deg API crude, and 5.4MMcf/d of gas through an 88/64-in. choke.
Soco believes the TGT structure comprises five fault blocks extending over 15-km on a north-south trend. The rig is now being relocated 30-km to the south to drill the `L' prospect.
4-28-06
