18th Nov 2015 08:05
LONDON (Alliance News) - Soco International PLC firmed up its full-year production guidance on Wednesday as the group said it has been boosted by the earlier start-up of the H5 wellhead platform at the Te Giac Trang field in Vietnam.
Soco said its production for the ten months to the end of October was 12,000 barrels of oil equivalent per day. It has revised up its production guidance for 2015 to 11,800-12,000 boepd, up from 11,000-12,000 previously.
The H5 well started production on August 10, ahead of the original schedule and ahead of budget, Soco said, and is currently producing from five wells. Current production from the H5 platform, at around 9,000 barrels, is slightly below expectations, the company said.
Soco added the work on the revised field development plan for Te Giac Trang is ongoing, with the formal submission to the Vietnamese government due to take place in the first quarter of 2016.
By Sam Unsted; [email protected]; @SamUAtAlliance
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