A new round of meetings was held on 2 and 3 November in Ho Chi Minh city of the joint operations working committee and the managing committee for Blocks 05-2 and 05-3 located on the shelf of Vietnam took place. Ho Chi Minh city is the commercial and industrial center of the southern part of the country.
The meetings were attended by representatives of Petrovietnam (Vietnam Oil and Gas Group) and Gazprom International that participate in the project for Blocks 05-2 and 05-3. Representatives of the Bien Dong operating company also took part. The Gazprom International delegation was headed by Sergey Tumanov, the company’s Managing Director.
The parties discussed the expected results of the work and the budget for 2016, as well as approved the work program and the budget for 2017. The parties praised the work of the project operator for well drilling and hydrocarbon production.
It was announced that in November 2016, Bien Dong had completed the construction of 16 production wells ahead of schedule. The construction was part of the plan for development of the Moc Tinh and Hai Thach fields located within Blocks 05-2 and 05-3. By the end of this year, the company plans to produce 2 billion cubic meters of gas at the license blocks, reaching the production plateau.
The project for the joint development of fields at Blocks 05-2 and 05-3 on the shelf of Vietnam is being implemented under a production sharing agreement based on a project share transfer agreement between Gazprom International (49%) and Petrovietnam (51%) signed in April 2012.
Blocks 05-2 and 05-3 are situated in the southeast of the South China Sea. Two gas fields, Moc Tinh and Hai Thach, have been discovered within their territories. These fields are being developed through 16 production wells from two production platforms and one technological platform. All gas produced under the project is supplied to the Phu My distribution center through the Nam Con Son-1 gas pipeline.
The total accumulated production volume of natural gas at Blocks 05-2 and 05-2 reached 5,6 billion cubic meters as of 1 November 2016.