Pharos Energy plc, an independent oil and gas exploration and production company, is pleased to announce the commencement of the TGT Field Infill Development Drilling Program.
Ed Story, President and Chief Executive Officer, commented:
“After a period of enforced inactivity across all the company’s operations because of the downturn and pandemic, the commencement of the TGT infill development drilling program represents a welcome and timely return to optimizing production and value. In addition to the firm four wells planned for this year, two further wells are expected to be drilled next year once approved during the annual autumn budget process. The Full Field Development Plan also contains a further 9 contingent wells to be drilled in the years to come.”
TGT Field Infill Development Drilling
The company announces the spud of the TGT-H4-34P development well from the H4 well head platform at the southern end of the TGT field, located in 47m of water depth in the Cuu Long Basin offshore Vietnam. The well is being drilled using the jack-up drilling rig PVDII. The initial four-well program will run to the end of this year with an additional two wells pending budgetary approval later this year.
The TGT-H4-34P well is the first infill well in a planned four-well program across the TGT field. Once each well is completed, it will be tied into the existing TGT processing facilities, contributing to the group’s production.
The capital spend for the initial four-well program is c.$13.2m net to Pharos.
Source: Pharos
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