UK-based oil and gas exploration and exploitation company, SOCO International PLC has announced that the group’s oil and gas project in Vietnam will be bigger than expected, according to British paper The Independent on April 19.
An oil well SOCO is exploring in Te Giac Trang (White Rhino) field off the southern Vietnamese coast is expected to supply around 17,500 barrels of oil per day, equivalent to some of the world’s big oil fields. SOCO plans to put the oil and gas project into production by 2007.
The group wants to bring oil from the White Rhino field to the market quickly at a cheaper price. Next to the White Rhino field, there is another big oil field, which has so far produced one billion barrels of oil. SOCO hopes that the infrastructure at the oil field would facilitate the operations of the group.
VOV - (21/04/2006)