Moscow. 27 October. INTERFAX-AGI (Gas Information Agency) - The Russian company Gazprom and the Vietnamese company Petrovietnam are planning to collaborate on locating the Nagumanovsky oil and gas condensate field in the Orenburg district (the subsoil user is the limited liability company Servisneftegaz, part of the Gazprom group).
“The main objective of the collaboration of the companies in Russia is specified as the Nagumanovsky deposit, located in the Orenburg district”, the Gazprom report states.
On Monday, Aleksei Miller, chairman of the board of Gazprom and Chan Ngok Khan, Petrovietnam's Chief Executive, both signed a 30-year oil and gas contract for blocks NN129, 130, 131 and 132 of the Vietnamese continental shelf.
The document provides for the exploration, development and extraction of hydrocarbons in the given blocks of the Vietnamese shelf. Execution of the contract will be subject to production sharing conditions. Vietgazprom, the joint venture company between Gazprom and Petrovietnam, is appointed as the operator for the contract.
Financing of the project will be carried out by Gazprom at the geological exploration phase.
The parties also signed the Principle Regulations for the Creation of a Joint operating company – Gazpromviet – to ensure collaboration between Gazprom and Petrovietnam on Russian territory and in other countries. The authorised capital of the company is allotted as follows: JSC Gazprom – 51%, Petrovietnam – 49%. Gazprom will be represented in the joint venture by the closed joint-stock company, Gazprom zarubezhneftegaz.
Currently Gazprom and Petrovietnam’s joint trading company, Vietgazprom, in accordance with the contract dated 11 September 2000, carries out geological exploration work in block N112 of the Vietnamese continental shelf. The contract covers the search, exploration, extraction and production of hydrocarbons.
In August 2007, an industrial flow of natural gas was obtained during Vietgazprom’s geological exploration work in block N112 of the Vietnamese continental shelf in the Bak Bo Gulf (Gulf of Tonkin) when the first prospect well was tested in the Bao Vang area. Gas condensate was also discovered in the open deposit.
On 20 November 2006, Gazprom and Petrovietnam signed an agreement regarding collaboration. An agreement regarding further collaboration between Gazprom and Petrovietnam was signed on 23 May 2008. The agreement provided for geological exploration work and further development of four new blocks on the Vietnamese shelf. The agreement also provided for the creation of a joint venture company by the two parties, called Gazpromviet, for working in Russian and other countries.
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