Total cumulative production of natural gas at contract blocks No. 05-2 and No. 05-3 on Vietnam’s continental shelf has surpassed the volume of 5 billion cubic metres since the start of production.
The natural gas production project was launched in September 2013, in the area covered by the two blocks at the Moc Tinh and Hai Thach fields, as a joint venture of the Vietnam Oil and Gas Group Petrovietnam and Gazprom International.
In compliance with the field development plans, Bien Dong, Pietrovietnam’s affiliate and the project’s operator, plans to reach the production benchmark of 2 bcm of natural gas at the Moc Tinh and Hai Thach fields in 2016.
In his congratulatory speech Sergey Tumanov, Gazprom EP International Services B.V. Director and member of the Management Committee for blocks No. 05-2 and No. 05-3, commended his Vietnamese colleagues on this landmark achievement, and highlighted one of the priorities in implementing this project, - the strict compliance with all health, safety and environment international standards.
“Thanks to the exceptionally high professionalism of Bien Dong’s employees, it has become possible to not only guarantee the successful realization of all planned operational activities, but also to ensure the safety and security of all production processes”, said Mr. Tumanov.
The exploration and development project at the Moc Tinh and Hai Thach fields on Vietnam’s continental shelf is being implemented according to the terms of PSAs on blocks No. 05-2 and No. 05-3. Gazprom International joined the project in July, 2013, following the agreement on shares assignment in these PSAs, which was signed with Petrovietnam the previous year.
Gazprom International, the sole specialized enterprise for implementing Gazprom's projects in the areas of prospecting, exploration and development of hydrocarbons outside the Russian Federation, owns 49% in the venture. The remaining 51% belong to Petrovietnam.
At the moment, the average daily production from the two fields is equivalent to approximately 7 million cubic metres of natural gas. The produced hydrocarbons are then transported over the Nam Con Son-1 pipeline to consumers in the south of the country.