The well encountered approximately 120m of oil and gas shows in a combined gross interval of 570m. Permeability and porosity were preserved and compared favorably with pre-drill estimates.
The test was hampered by apparent limitations of the perforations, which had to penetrate two casing strings and associated cementing. Additionally, operational issues during both the drilling and testing of the well reportedly impacted its ability to flow and accordingly there are no meaningful sustainable flow rates from either test.
SOCO International noted that the Hoang Long Joint Operating Company, operator of Block 16-1 in the Cuu Long Basin offshore Vietnam, has announced that it will now plug and abandon the well.
Ed Story, president and CEO of SOCO, said: As we previously highlighted, the significance of the Te Giac Den discovery, at this stage, is the confirmation of the appraisal area. Furthermore, the presence of a working hydrocarbon system on such a vast structure underscores the future value of this discovery and the potential to continue to significantly grow the company’s reserve base in Vietnam.
