Te Giac Trang oil field reaches production milestone of 100 million barrels
Te Giac Trang (White Rhino) oil field has officially reached a production milestone of 100 million barrels of crude.
The field is situated in Block 16-1, about 100km southeast of the southern Vung Tau City.
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.
The HLJOC was established by PetroVietnam Supervision Company (PVSC), SOCO Vietnam Ltd. (SOCO), Amerada Hess Vietnam Ltd. (HESS), and OPECO Vietnam Ltd. (OPECO).
By now, the company’s total revenue has reached US$8.3 billion, contributing more than US$2.8 billion to the state budget.
