SOCO going loco after Vietnamese field gets its mojo

SOCO International, the FTSE 250 oil and gas company, says production has started a month ahead of schedule at its second platform in the Te Giac Trang field off the southern coast of Vietnam.

Production from the field, currently around 42,000 barrels of oil per day ('BOPD'), will now be increased to the 55,000 BOPD.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Ed Story, President and Chief Executive of SOCO, commented: "We set an ambitious delivery target and it is a credit to all involved that this has been achieved ahead of schedule.

"We now look forward to working with our partners to maximise the recovery and performance of the field. The success and knowledge we have gained thus far from the TGT Field will enable us to drive further shareholder value in Vietnam and the wider region."

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.