This represents the last stage of the required process and follows the recent approval of an initial two-year licence extension to 7 December 2026, as announced in the TGT field licence extension and RBL update on 4 August 2020.
Ordering of long-lead items can now proceed to enable the commencement of the drilling of six firm development wells contained in the FFDP in 4Q21 as planned. This infill-drilling programme is targeted to increase gross production at TGT from the present 15 000 boe/d to around 20 000 boe/d in 2022.
Ed Story, President and CEO, commented: “We are pleased to have received approval from the Prime Minister of Vietnam for the TGT Full Field Development Plan. This final approval enables us to put plans in place to commence the drilling of the six new producer wells on TGT starting in 4Q21, allowing us to realise further resources in the TGT field.”