The Joint Operating Company Vietgazprom has completed the Minimum Production Commitments for conducting 2-D offshore seismic survey work and geochemical prospecting in blocks 129-132 of the continental shelf of the Socialist Republic of Vietnam one year early. The data obtained is currently being processed. Originally, the works were planned to be completed in 2011. However, thanks to the amalgamation of stages II and III, they were carried out earlier than the planned deadline.
The volume of work conducted by the consortium Polar Trade & PTSC (the vessels Professor Polshkov, Zephir 1 and Binh Minh 2) amounted to 11,200 linear kilometres. All in all, up till now Vietgazprom has carried out seismic survey work in the blocks in question over an area of 20,000 linear kilometres.
Processing is being carried out by the company Polar Trade, and alternative processing is being conducted by the consortium Faierfield & VPI.
Interpretation of the offshore geochemical prospecting data continues, conducted by the Federal State Unitary Enterprise Okeanologia (the vessel Emma) on 1,000 bottom samples.
The development of blocks 129, 130, 131 and 132 of the continental shelf of the Socialist Republic of Vietnam is being carried out by the Joint Operating Company Vietgazprom within the scope of the Oil-and-Gas contract, signed in 2008 between the Vietnamese National Oil-and-Gas Group (VNNG), Gazprom, PetroVietnam, PVEP (Corporation for Hydrocarbon Prospecting and Production) and Gazprom zarubezhneftegaz.
Blocks 129-132, the overall area of which amounts to 28,400 cubic kilometres, are located on the southern shelf of the Socialist Republic of Vietnam. The study of the data from the blocks provides for the full spectrum of geological and geophysical work: the conducting of 2-D and 3-D seismic studies, geochemical investigation, electro-geological exploration work, and the drilling of prospecting holes and exploratory wells.