The seventh meeting of the Technical Subcommittees for oil-and-gas contracts in blocks 129-132 of the continental shelf of the Socialist Republic of Vietnam took place on 3-4 October in Hanoi.
The participants at the meeting heard reports from representatives of the international service corporation, Haliburton, regarding the specific characteristics of deep-water extraction of hydrocarbons, and recommended that the joint operational company Vietgazprom examine the possibility of using Halliburton's technology, methodology and programs in this region when compiling the technical requirements for the tender for the preparation of documentation for deep-water drilling.
Boris Romanov (head process engineer for carrying out foreign and joint projects for the development of hydrocarbon deposits in Gazprom's gas, gas condensate and oil production department and a member of the technical section of the Technical subcommittee), Valeriy Gulev (managing director of Gazprom International, the single operator of Gazprom's foreign projects for the exploration and production of hydrocarbons), and Valeriy Petrenko (Director General of Vietgazprom), along with other representatives from Gazprom, Vietgazprom and Gazprom International, all took part in the meeting from the Russian side.
The Vietnamese side of the subcommittee was represented by Fan Tien Vien (head of the geological exploration work department in the Vietnamese oil-and-gas group (VNG) PetroVietnam), Fam Byet Zung (deputy head of VNG's geological exploration department), Li Tuan Byet (deputy head of the geological exploration department for the PVEP group), and other specialists from PetroVietnam and PVEP.
Haliburton's capabilities in working with unconventional resources and deep-water drilling were presented by Joe Rainey (the company's President of Eastern Hemisphere), Brady Murphy (former president of business development), Lamar Duhon (vice-president, Business Development Asia-Pacific), Ian Will (head of department for well work) and a number of other company specialists.
According to Haliburton's data, the volume of the world market for deep-water drilling currently amounts to around $35 billion, and within the company it is expected that this will double by 2015.
Brady Murphy reported that break-neck growth in the volume of deep-water drilling will take place over the next few years: in this sector, 168 specialised drilling rigs have currently been brought into operation; more than 40% of the hydrocarbon resources that exist today and which are lying at great depths were discovered in the period from 2005 to 2009.
Halliburton currently has two jack-up drilling rigs at its disposal on Vietnamese territory and expresses its readiness to embark upon implementing deep-water work on behalf of Gazprom.
On 4 October, a working meeting took place between Valeriy Gulev (head of Gazprom International) and Phung Dinh Thuc (chairman of the Board of Directors of VNG PetroVietnam), during which the issues surrounding current activities and interaction within the joint operating company Vietgazprom were discussed.
In 2000, Gazprom and Petrovietnam signed a contract for the exploration, prospecting, production and sale of hydrocarbons in Block 112 of the continental shelf of Vietnam. In order to implement this, a joint operating company was created between Gazprom and VNG PetroVietnam - Vietgazprom - in which the Gazprom Group is represented by its single specialised enterprise for hydrocarbon exploration and production abroad - Gazprom International.
The Bao Vang gas condensate deposit was opened in the block in 2007, and in 2009, reserves of natural gas were also discovered in the neighbouring field of Bao Den.
In 2008, the parties signed an Agreement on cooperation, which provides for the carrying out of geological exploration work and further development of 4 new blocks offshore from the Socialist Republic of Vietnam, and also the creation of a joint venture, Gazpromviet, for working in Russia and third countries, in which Gazprom International also represents Gazprom's interests. The main objective for the JV's work in Russia has been identified as the Nagumanovsky oil-and-gas condensate deposit in the Orenburg district.
In October 2008, Gazprom and PetroVietnam signed a 30-year contract for blocks 129, 130, 131 and 132 on Vietnam's continental shelf under PSA conditions, the operator for which is Vietgazprom.
As part of this contract, 2-D seismic survey work and geochemical studies have been carried out, and interpretation of the data received is being performed.
Gazprom and PetroVietnam signed a Strategic Partnership Agreement in 2009.
The parties agreed to continue their joint work on Vietnam's continental shelf under previously concluded contracts, and will also examine further potential for work in new licensed blocks.