13th Aug 2015 07:29
LONDON (Alliance News) - Oil and gas company SOCO International PLC on Thursday said the first oil and gas from the H5 wellhead platform at the Te Giac Trang field in Vietnam was seen this week.
The start of production on the platform has begun one months ahead of schedule, SOCO said, and the project has been completed with no lost time accidents.
"Achieving first oil from H5, the third platform on the TGT field, over one month ahead of an ambitious delivery target is a credit to all involved. It is a key milestone for the field's ongoing development. We now look forward to working with our partners to maximise the recovery and performance of the field," said SOCO President and Chief Executive Ed Story.
Shares in SOCO were up 2.5% to 143.5 pence on Thursday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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