PTTEP 16-1 Project Offshore Vietnam Moves Forward

PTTEP 16-1 Project Offshore Vietnam Moves Forward

PTTEP announces today (July 9,2012 )that the second wellhead platform of Vietnam 16-1 project has been successfully installed, and this is expected to increase its capacity to about 55,000 bpd by the fourth quarter this year.

Mr. Tevin Vongvanich, the President and CEO of PTT Exploration and Production Public Company Limited, or PTTEP, said that the production of crude oil from the Te Giac Trang Field (the “TGT”) of Vietnam 16-1 Project is expected to increase from 41,000 to about 55,000 barrels of oil per day (bpd) by the fourth quarter this year . This reflects the continued success in the cooperation of PTTEP and the project partners with respect to this investment in the oil industry in Vietnam.

The TGT Field of Vietnam 16-1 Project is located off the southern coast of Vietnam, approximately 100 kilometers from Vung Tau Province. Oil production first commenced in August 2011 and development continued with the installation of the second wellhead platform which is expected to improve the production capacity as planned. Vietnam 16-1 Project consists of a floating production storage and offloading unit (an “FPSO”), two wellhead platforms and the subsea pipeline system.

The Vietnam 16-1 Project is operated by Hoang Long Joint Operating Company which was established by four partners, including PTTEP Hoang Long Ltd., a wholly owned subsidiary of PTTEP, with a 28.5% share, PetroVietnam Exploration Production Corporation, or PVEP, with a 41% share, SOCO Vietnam Ltd with a 28.5% share and OPECO Vietnam Ltd with a 2% share.

Currently, PTTEP has invested in 4 exploration and production projects in Vietnam, including Vietnam 9-2 and Vietnam 16-1, which are under production phase, and Vietnam B & 48/95 and Vietnam 52/97, which are under pre-development phase.

Subsea World News Staff , July 09, 2012;  Image: Hoang Long

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FPSO Europe Congress

 

Pursuing Cost-Optimization & Project Excellence across Europe’s FPSO Value Chain!

Launched to great success in 2015, the FPSO Europe Congress is set to return on 24-25 February 2016 in London for yet another exciting gathering of Europe’s leading oil operators, FPSO contractors, EPCs, shipyards and solution providers to discuss the most topical and critical FPSO developments in the North Sea, Latin America, Brazil and West Africa market.

 

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The FPSO Europe Congress 2016 is proud to bring you an updated program offering fresh perspectives, creative solutions and critical market intelligence fundamental to FPSO business sustainability as we discuss just HOW and WHAT you can do in pursuit of a viable, efficient and safe FPSO strategy.

For more information please visit the website at http://goo.gl/uvYsrk or email rani.kuppusamy@fpsonetwork.com

 

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