PV Gas, Zarubezhneft, PVEP shake hands to tap Thien Nga-Hai Au gas field
Petrovietnam Gas (PV Gas), Petrovietnam Exploration Production Corporation (PVEP) and their Russian partner - the state-owned Zarubezhneft have agreed to continue their partnership to jointly exploit the Thien Nga-Hai Au gas field off Vietnam’s southeastern region.
CEO of PV Gas Pham Van Phong chairs the meeting (Photo: pvn.vn)
Hanoi (VNA) - Petrovietnam Gas (PV Gas), Petrovietnam Exploration Production Corporation (PVEP) and their Russian partner - the state-owned Zarubezhneft have agreed to continue their partnership to jointly exploit the Thien Nga-Hai Au gas field off Vietnam’s southeaꦐstern region.
The agreement was reached at a meeting at PV Gas’s headquarters in Ho Chi Minh City on May 20 among President and CEO of PV Gas Pham Van Phong, CEO of Zarubezhneft EP Vietnam Alexander I. Mikhaylov, and CEO of PVEP Tran Hong Nam.
Representatives of Zarubezhneft and PVEP at the meeting (Photo:pvn.vn)
At the meeting, representatives from Zarubezhneft EP Vietnam briefed the partners about the Thien Nga-Hai Au gas field in Block 12.11, located in the western part of the Nam Con Son basin.
According to the reserve assessment report approved by the Prime Minister in Decision No. 467/QD-TTg dated April 14, 2022, about 7.43 billion cubic meters of gas will be tapped from the Thien Nga-Hai Au field and provided for the southeast region in the 2026-2037 period. The first gas flow is expected in Q4/2026.
For its part, PVEP, a subsidiary of state-run Petrovietnam, also informed the parties about cooperation in exploiting the gas field and bringing gas onshore using the existing the Nam Con Son 1 gas pipeline infrastructure, through the Rong Doi platform in Block 11.2.
This cooperation will lay ground for the development of the Rong Doi Moi field and undiscovered reserves in Block 11.2, PV Gas said in a statement on its website.
CEO of PV Gas Pham Van Phong asked PVEP and Zarubezhneft to continue updating the firm on the progress of the Thien Nga-Hai Au field, and coordinate efforts to explore and implement new gas projects and provide gas for the southeastern region.
The PetroVietnam Exploration Production Corporation (PVEP) is the upstream arm of Vietnam Oil & Gas Group (PetroVietnam), conducting the core business of exploration and production. Over decades of building and development, PVEP has grown tremendously and contributed remarkably to the national economy. It is now one of the biggest companies in Vietnam and ranks among the top oil companies in the region.
Meanwhile, PV Gas is a leading gas enterprise in Vietnam. It is currently Vietnam’s biggest dry gas and LPG supplier, contributing to ensuring national energy and food security. Currently, each year the corporation provides a stable source of raw materials and fuel to produce nearly 11% of electricity output, and 70% of nitrogen demand and fuel for many industrial parks. It also occupies 100% of the dry gas market share, and about 70% of the wholesale market share and nearly 11% of the retail market share of LPG.
Zarubezhneft has been present in Vietnam for nearly 40 years with engagement in the Bach Ho (White Tiger), Rong (Dragon), and Thien Ung (Eagle) fields, among others. It holds a 49% stake in Vietsovpetro, a joint venture with Petrovietnam.
Zarubezhneft and PV Gas have been partnering to deploy gas projects in Vietnam. On March 15, 2024, they signed a memorandum of understanding on the purchase and sale of gas from the Thien Nga-Hai Au field, 320km southeast of the southern province of Ba Ria-Vung Tau./.
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