First oil to enhance nation’s energy security

Hoang Long Joint Operating Company held a ceremony yesterday to celebrate the first flow of oil pumped from the Te Giac Trang Oil-field off Ba Ria-Vung Tau Province.
The Te Giac Trang H1 well-head platforms (WHP) pumped the first barrels of oil on August 22 after 12 years of exploration by Hoang Long.

Located some 100km southeast of Vung Tau on Viet Nam’s continental shelf, 20km from the Bach Ho Field and 35 km from the Rang Dong Field, Te Giac Trang was discovered in August 2005.

Its commercial exploration was announced in September 2009 after the Te Giac Trang 1X Well was drilled.

“Early production from the Te Giac Trang Field will make a significant contribution to ensuring the country’s energy security and attaining revenues for Hoang Long’s partners as well as the Viet Nam Oil and Gas Corporation (PetroVietnam),” said Ngo Huu Hai, general manager of Hoang Long JOC.

Hai said Te Giac Trang has been producing 42,800 barrels of crude oil per day.

“Half a million barrels of crude oil valued at US$60 million are being traded from the Armada Te Giac Trang 01 FPSO (floating, production, storage and off-floating vessel) to international clients,” Hai said.

He added that Hoang Long would continue to drill other production wells, and fabricate and install the topsides of the H4 WHP which is scheduled to become operational next year.

Hoang Long JOC’s partners include PetroVietnam Exploration and Production Corp (PVEP), SOCO of the UK, PTTEP of Thailand and OPECO of the US.

During the First Oil Ceremony, the President awarded Hoang Long with the Labour Order, Third Class.