Soco International makes discovery at well off Vietnam

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Soco International Plc, a UK explorer in Africa and Southeast Asia, said that the Te Giac Den appraisal well, TGD-2X, encountered hydrocarbons off Vietnam.

The TGD-2X appraisal well in Block 16-1 of the Cuu Long Basin found hydrocarbons at a depth of approximately 4,450 meters (14,600 feet), the London-based company said Wednesday in a statement.

The explorer plans to quadruple recoverable oil reserves as it targets 700 million barrels of resources by drilling four wells, Chief Executive Officer Ed Story said last week. Soco is drilling wells in Vietnam and in the Democratic Republic of Congo, the first onshore well in the country in about 40 years, he said.

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