The Second Biggest Petroleum Producer and Leading Operator in Viet Nam

News2012-07-16 08:47:33

HLJOC Press Release on TGT First Oil WHP H4

Facsimile Transmission Form of Hoan Vu JOC

The first flow of crude oil and gas from the Wellhead Platform H4 (WHP-H4) of the Te Giac Trang Field (TGT) occurred on 06 July 2012. The TGT-WHP-H4 is located in the south of the TGT Field in Block 16-1 in the Cuu Long Basin, off the southern coast of Vietnam, approximately 100 km from Vung Tau, 20 km northwest of the Bach Ho Field, and 35 km west of the Rang Dong Field.

This marks a continued successful milestone in investment cooperation in the oil and gas industry in Vietnam for the Partners in the block who consist of PetroVietnam Exploration Production Corporation (41%), SOCO Vietnam Ltd. (United Kingdom – 28.5%), PTTEP Hoang Long Ltd. (Thailand – 28.5%), and OPECO Vietnam Ltd (United States of America – 2.0%). The block is operated on behalf of the Partners by the Hoang Long Joint Operating Company (HLJOC), which was established in 1999.

The TGT Field Development Plan (FDP) consists of a Floating, Production, Storage and Offloading unit (FPSO) and two WHP’s (H1 and H4), and a subsea pipeline system to transport hydrocarbons, gas, gas lift and water.

On 22 August 2011, TGT-WHP-H1 came on line and produced the first oil 18 days ahead of schedule, with a current average production rate of 41,000 barrels/day.

As part of the second phase of the TGT FDP, in April 2011, HLJOC signed an epCI Contract (Engineering, Procurement, Construction and Installation) with Petroleum Equipment Assembly and Metal Structure Joint Stock Company (PVC-MS) for the Topsides of TGT-WHP-H4, weighing approximately 2,000 tons with the value of 44 Million US Dollars. Over the past year, the PVC-MS and HLJOC teams have worked hard to complete the project ahead of the contract schedule with all the workload onshore and installation, hook-up and commissioning offshore with proven quality assurance and working more than a million hours with no lost time incident.

Hydrocarbons from the TGT Field are transported via a subsea pipeline system to the FPSO Armada TGT 01, which has a processing capacity of approximately 55,000 barrels of oil per day (BOPD). The oil is then processed, stored and exported to regional oil refineries, while the gas is transported through a pipeline to the near-by Bach Ho Facilities for transportation to shore via the existing infrastructure for further distribution to meet domestic demand. TGT Field Oil output is expected to be between 40,000 and 55,000 BOPD and gas production is approximately 30 million cubic feet per day.

TGT-WHP-H4 first production has been achieved 37 days earlier than scheduled.