Total cumulative production of natural gas on contract blocks 05-2 and 05-3 of Vietnam’s continental shelf has surpassed 4 billion cubic meters since September 2013, when production was started.
The project for development of the Moc Tinh and Hai Thach fields, which are located within these blocks, is being implemented jointly by Vietnam Oil and Gas Group Petrovietnam and Gazprom International.
In 2015, the operator of the project, Bien Dong Oil and Gas Operating Company (a branch of Petrovietnam) has exceeded the annual plan by almost 3%, producing roughly 1.8 billion cubic meters.
Under the project, 2 billion cubic meters of gas are to be produced this year, which corresponds to the plan for field development.
The project for development of the Moc Tinh and Hai Thach fields located on the shelf of Vietnam is being implemented under the agreements regarding production sharing for blocks 05-2 and 05-3, joined by Gazprom International in July 2013 on the basis of a share transfer agreement signed with Petrovietnam in April 2012.
Gazprom International, the sole specialized Gazprom’s enterprise that operates in the areas of prospecting, exploration and development of hydrocarbons outside the Russian Federation, holds a 49% share in the project. The remaining 51% belongs to Petrovietnam.
Currently, the average production volume at the two fields amounts to approximately 6 million cubic meters per day. The hydrocarbons produced are delivered to consumers in the south of the country via the Nam Con Son-1 gas pipeline.