Te Giac Trang is situated about 100km southeast of Vietnam’s southern city of Vung Tau.
Soco International which holds 28.5% interest in the project said the field is expected to start extracting around 55,000bpd from next month.
Hoang Long the operator of the block signed a $44m deal with Petrovietnam Equipment Assembly & Metal,a subsidiary of Petrovietnam to construct the topside of the H4 jacket.
Construction of the topside is expected to be completed between 04 July – May 2012, reports Reuters.
Production from the H4 jacket is expected to start from August 2012.
Soco also said that with the H4 development, Hoang Long is expected to add 40,000 bpd to the output of Te Giac Trang.
The block 16-1 is owned by Petrovietnam holding 41% interest along with PTT Exploration and Production and Opeco holding 28.5% and 2% interest respectively.
