On 31 December 2014, the operating company Bien Dong POC, a branch of the Vietnamese Petrovietnam Oil and Gas Group, engaged jointly with Gazprom International in the project in blocks No. 05-2 and No. 05-3 offshore the Socialist Republic of Vietnam, produced a second billion cubic metres of natural gas.
Commercial production in the Hai Thach and the Moc Tinh gas fields in these blocks began in September 2013.
The natural gas extracted is delivered to consumers in the southern part of the country via the Nam Con Son-1 pipeline. Current daily extraction in the blocks is roughly 4 million cubic metres of gas.
The successful work for implementation of this project was highly praised by the Co-Chairmen of the Joint Coordinating Committee for Cooperation between Gazprom and Petrovietnam, Gazprom Deputy Chairman of the Board Vitaly Markelov and Vice President of Petrovietnam Nguyen Vu Truong Son during the regular meeting of that managing body in November 2014.
Blocks No. 05-2 and No. 05-3 are located in the south-eastern part of the South China Sea. Two gas fields, Moc Tinh and Hai Thach, were discovered in these blocks.
The fields are planned to be developed using 16 production wells from two production platforms located in these blocks.
The project for joint development of the fields in blocks No. 05-2 and No. 05-3 is being implemented on the terms of a Production Sharing Agreement on the basis of the Agreement on Assignment of Project Shares between Gazprom International and Petrovietnam signed in April 2012.
Thus, in this project Gazprom Group with a 49% share is represented by Gazprom International, the Group's sole specialised company for prospecting, exploration and development of hydrocarbon fields outside the Russian Federation. Petrovietnam's share in the project is 51%.