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The second wellhead platform of the Vietnam 16-1 project was installed and is expected to increase its capacity to about 55,000 barrels per day by 4Q this year, PTT Exploration and Production reported.
The TGT field of Vietnam 16-1 project is offshore Vietnam, approximately 100 km (39 sq miles) 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.
The project consists of a floating production, storage, and offloading unit, two wellhead platforms, and the subsea pipeline system. The project is operated by Hoang Long Joint Operating Co., 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 Corp., with a 41% share, SOCO Vietnam Ltd. with a 28.5% share and OPECO Vietnam Ltd. with a 2% share.