On 28-29 October in Hanoi (Vietnam), regular meetings of the Technical Subcommittees for the development of blocks No 112 and Nos 129-132 on Vietnam’s continental shelf took place.
The meetings were attended by representatives of PJSC Gazprom, the Vietnam Oil and Gas Group Petrovietnam, Gazprom International, Petrovietnam’s subsidiary Petrovietnam Exploration & Production Corporation (PVEP), and Joint Operating Company (JOC) Vietgazprom.
Participants reviewed the results from Vietgazprom’s drilling of a deepwater exploration well in the Thanh Bien field in block No 131, as well as options for planned tests on the gas-bearing formations discovered. It was suggested that Vietgazprom prepare documents related to further work on the drilling and testing of the well.
In addition, the basic aspects of a comprehensive evaluation report on the Bao Vang field in block No 112 were reviewed, as were proposals for further exploration work in the field.
In 2000, OJSC Gazprom and Petrovietnam signed a contract for the exploration, production and sale of hydrocarbons in block No 112 on Vietnam’s continental shelf. In order for the parties to implement the contract, the Vietgazprom joint-operating company was created. Subsequently, neighbouring blocks Nos 111/04 and 113 were added to the territory covered by the contract. In 2007, the Bao Vang field was discovered in the area covered by the contract, while the Bao Den field was discovered in 2009.
In 2008, the parties signed an agreement on cooperation that provides for exploration and further development of four new blocks on Vietnam’s continental shelf, as well as for the creation of a joint venture called Gazpromviet to work in Russia and other countries.
In October 2008, Gazprom and Petrovietnam signed a long-term production-sharing agreement for the development of blocks Nos 129, 130, 131 and 132 on Vietnam’s continental shelf, with Vietgazprom as the operator. Under the agreement, significant exploration work has already been carried out, and in August 2015, the drilling of the first deepwater exploration well in block No 131 got under way.
In 2009, Gazprom and Petrovietnam signed a Strategic Partnership Agreement. The parties agreed to continue joint work on Vietnam’s continental shelf within the framework of previously concluded contracts, and to explore opportunities to work on newly licensed blocks.