Te Giac Trang oil field reaches 100 mln barrel production milestone
Te Giac Trang (White Rhino) oil field off Vietnam's southern coast has officially reached a production milestone of 100 million barrels of crude.
The field is situated in Block 16-1, about 100 kilometers southeast of Vung Tau town. Its commercial development was announced in September 2009.
The new milestone has turned its operator, the Hoang Long-Hoan Vu Joint Operating Company (HLJOC), into one of the five oil companies on the Vietnamese continental shelf making such record.
Te Giac Trang (White Rhino) oil field off Vietnam's southern coast. Photo courtesy of Vietnam News Agency.
HLJOC was established by PetroVietnam Supervision Company (PVSC), SOCO Vietnam Ltd. (SOCO), Amerada Hess Vietnam Ltd. (HESS), and OPECO Vietnam Ltd. (OPECO).
The company’s total revenue has reached $8.3 billion to date, contributing more than $2.8 billion to the state budget.
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