The joint operations company Vietgazprom has started 2D seismic exploration (GEW) works in Areas 129-132 of the Vietnamese Continental Shelf.
The main aspect of the geological survey works in Areas 129-132 is a full-scale single-method (2D) seismic survey. The volume of seismic exploration is estimated at 20,000 l/km per year. The survey is expected to last for a total of three years.
In 2009, a 2D seismic survey of a total of 8,800 l/km per year is planned.
Overall, the work planned for the fulfilment period of the minimum GEW programme includes complex geophysical and geochemical investigations and the drilling of two initial prospecting boreholes.
These searches will be complemented with regional geochemical surveys aimed at detecting anomalies and applying corrections to the principal structural style and formation of the sedimentary mantle.
Within the limits of the data obtained from the seismic investigations of structures and geochemical anomalies, a 3-D seismic survey is planned for a 1,000-km2 area. It is planned to complement the data with DNME electrical prospecting over 1,000 km2 and detailed geochemical research.
In order to increase efficiency, the planned research will be accompanied with computerised geological monitoring: complex processing and analysis of the geophysical field research. On the basis of these data, it is planned to drill two prospecting boreholes.
On 27 October 2008, in the presence of RF President Dmitry Medvedev and Vietnamese President Nguyen Minh Triet, Alexey Miller, Chairman of Gazprom, and Chan Ngoc Kan, President of the Vietnamese Oil and Gas Group (VNG) Petrovietnam, signed an oil and gas agreement for Areas 129-132 of the Vietnamese continental shelf, for a 30-year period. The appointed operator for the project is SOC Vietgazprom (with Gazprom’s interests being represented by ZAO Gazpromneftegaz).
The investment certificate (licence) for realising the Oil and Gas Contract for Areas 129, 130, 131 and 132 of the Vietnamese continental shelf was awarded to OAO Gazprom on 6 February 2009.
In August 2007, during geological survey works by Vietgazprom in Area 112 of the Vietnamese Continental Shelf in the Bak Bo bay, drilling of a prospecting borehole in the Bao Vang area obtained an industrial flow of natural gas.
Vietgazprom, in accordance with the contract dated 11 September 2000, is currently conducting geological surveys on Area 112 of the Vietnamese continental shelf. The contract provides for the prospecting, extraction and sale of hydrocarbons.
On 20 November 2006, OAO Gazprom and Petrovietnam signed a joint work agreement. This agreement provided for joint work between the companies in the following areas:
• prospecting, processing, transportation, use and sale of natural gas, oil and other energy sources;
• planning, construction, operation and servicing of oil pipelines and gas pipelines, oil and gas storage point, and pipeline distribution networks;
• diagnosis and control of the technical state and safety of gas and oil pipelines and of other parts of the gas and oil-chemical infrastructure;
• use of oil and gas as motor fuels, development and management of gas distribution systems and AZS network;
• processing of oil, gas and other types of raw hydrocarbons;
• supply of oil and gas refining products and oil and gas industry equipment.
The document also provided for interaction between the companies in promising projects in third-party countries, including surveying and development of oil and gas deposits.
On 23 May 2008, a continued joint work agreement was signed between Gazprom and Petrovietnam. The agreement provided for geological survey works and further mastering of new areas on the Vietnamese shelf.
The agreement also provided for the parties to create joint companies for work in Russia and third-party countries. In this agreement, Gazprom’s interests would also be represented by Gazprom Zarubezhneftegaz.