Two joint operating companies in Vietnam have secured a jack-up drilling rig for their planned offshore development wells this year in the Cuu Long basin.

The Hoang Long joint operating company is the operator of the Te Giac Trang oilfield in Block 16-1 while the Hoan Vu joint operating company is the operator of the Ca Ngu Vang oilfield in Block 9-2.

At Te Giac Trang, the joint owners plan to drill two new production wells in the second half this year, and at Ca Ngu Vang the plan is to drill one new well in the same timeframe, said co-owner in both fields Pharos Energy.

A letter of award has been signed with Malaysia's Velesto Energy for the drilling rig Naga-3 for a firm two wells, with an option for a third well.

In the period from 1 January 2022 to 30 April 2022, gross production from Te Giac Trang averaged 15,229 barrels of oil equivalent per day. Output at Ca Ngu Vang averaged 5527 boepd gross.

PetroVietnam Exploration & Production (PVEP) holds a 50% stake in the Hoan Vu group, with Pharos and Thailand’s PTTEP each holding 25%.

At Hoang Long, PVEP holds 41%, Pharos 30.5% and PTTEP 28.5%.

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