Soco International PLC (SIA.L) said it continues to pursue growth and rationalisation of portfolio. Mike Watts and Jann Brown will be joining the Company to spearhead these efforts. In the coming months, it expect to announce a new Production Sharing Agreement over two blocks, offshore Vietnam, adding to existing strong presence in the region.
Capital expenditure for 2017 is expected to be approximately $50 million to cover the development drilling and infrastructure upgrade on existing Vietnam assets, purchase of seismic data for new venture Blocks 125 & 126 in Vietnam and PEX bonuses in Africa on MXI.
The company continues to pursue growth and rationalisation of our portfolio. Dr Mike Watts and Jann Brown will be joining the Company to spearhead these efforts. In the coming months, we expect to announce a new Production Sharing Agreement over two blocks, offshore Vietnam, adding to our existing strong presence in the region.
Capital expenditure for 2017 is expected to be approximately $50 million to cover the development drilling and infrastructure upgrade on our existing Vietnam assets, purchase of seismic data for new venture Blocks 125 & 126 in Vietnam and PEX bonuses in Africa on MXI.
The Board of Directors expects to recommend a dividend to shareholders with respect to 2016 earnings consistent with strategy of sustainable cash returns to shareholders.
In vietnam, Te Giac Trang Field production averaged 27,650 barrels of oil equivalent per day gross and 8,330 BOEPD net to SOCO's working interest in 2016; the Ca Ngu Vang Field production averaged 6,211 BOEPD gross and 1,553 BOEPD net to SOCO's working interest in 2016.
by RTT Staff Writer
For comments and feedback: editorial@rttnews.com
Capital expenditure for 2017 is expected to be approximately $50 million to cover the development drilling and infrastructure upgrade on existing Vietnam assets, purchase of seismic data for new venture Blocks 125 & 126 in Vietnam and PEX bonuses in Africa on MXI.
Capital expenditure for 2017 is expected to be approximately $50 million to cover the development drilling and infrastructure upgrade on our existing Vietnam assets, purchase of seismic data for new venture Blocks 125 & 126 in Vietnam and PEX bonuses in Africa on MXI.
The Board of Directors expects to recommend a dividend to shareholders with respect to 2016 earnings consistent with strategy of sustainable cash returns to shareholders.
In vietnam, Te Giac Trang Field production averaged 27,650 barrels of oil equivalent per day gross and 8,330 BOEPD net to SOCO's working interest in 2016; the Ca Ngu Vang Field production averaged 6,211 BOEPD gross and 1,553 BOEPD net to SOCO's working interest in 2016.
by RTT Staff Writer
For comments and feedback: editorial@rttnews.com
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