Sunday, September 09, 2007

UK firm speeds up Vietnam offshore work

Soco upbeat on Vietnam prospects

By Toby Shelley

Published: September 4 2007 11:38 | Last updated: September 4 2007 11:38

Soco International’s first-half pre-tax profits rose 15 per cent to $28.9m as the UK oil explorer races to increase the acreage offshore Vietnam it has under appraisal as a December 7 deadline looms.

After then, the company’s will automatically be allowed to continue working on prospects it is appraising for potential development, rather than simply exploring, while other acreage could be re-licensed to other oil companies.