With a view to ensuring the National Energy Security, increasing oil and gas reserve, discovering new oil and gas fields to meet domestic and export demand, Vietnam National Oil and Gas Group (Petrovietnam) has been carrying out effective exploration and production of oil and gas in Vietnam and overseas through exploration contracts signed with its partners to discover new significant oil and gas fields as well as evaluate reserve of discovered fields to put them into soon operation. On the other hand, state-of-the-art technologies in the world have been applied to enhance output, increase oil and gas recovery factor and protect the environmental resources.
1. At home
Tertiary basins with petroleum potential have been identified on Vietnam’s continental shelf. They include Song Hong, Phu Khanh, Cuu Long, Nam Con Son, Malay-Tho Chu, Tu Chinh-Vung May, the Spratly and Paracel basins. Most of these, such as Cuu Long, Nam Con Son, Malay-Tho Chu and Song Hong basins, have given oil and gas.
Petrovietnam has signed more than 76 petroleum contracts (53 are taking effect) with international petroleum groups and corporations under various forms like production sharing contract (PSC), business cooperation contract (BCC), joint operation contract (JOC, joint venture (JV), etc. with total investment cost of more than US billion. Petrovietnam has conducted 2-D surveys for over 400,000 km of seismic lines, 3-D seismic surveys for nearly 60,000 square km, drilled over 990 exploration, appraisal and production wells with total drilling depth of 2.3 million meters.
Some wells, which have good petroleum potentials, have been recently creating a new viewpoint of petroleum exploration, contributing to the increase of oil and gas reserve by 35-40 million tons of equivalent oil/year. Petrovietnam will also continue its petroleum exploration in some new areas on Vietnam’s continental shelf.
2. Overseas
Petrovietnam has been successful in oil and gas exploration and production overseas. At present, it is investing in 23 oil and gas exploration and production projects all over the world.
Algeria
Exploration and appraisal contract for Block 433a & 416b
Cameroon
Bomana Block contract (offshore)
Cambodia
Block 15
Congo
Marine XI Block contract
Cuba
Contract for Block 16, 17, and 18 (onshore),
Contract for Block 31, 32, 42, and 43 (offshore)
Indonesia
Randugunting Block contract (onshore)
Iran
Danan block contract (onshore);
Laos
Champasak, Saravan Block contract
Savanakhet Block contract
Russia
Joint Venture Rusvietpetro is implementing projects in area of Nhenhexky.
Joint Venture Gazpromviet is implementing Nagumanov project
Madagascar
Majunga Block contract, offshore Propond
Malaysia
PM304 Block contract, (offshore)
SK305 Block contract, offshore Sarawak
Mongolia
Tamsag Block contract
Myanmar
M2 Block contract
Peru
Z47 Block contract, basin Trujillo (offshore),
162 Block contract
Tunisia
Tanit Block contract (offshore)
Guellala Block contract (offshore)
Venezuela
Junin-2 Block
3. Year 2009
- Oil and gas reserve has increased to 84 million of tons, equal to 210% of the year plan (34 million tons inside the country and 50 million tons abroad).
- There were 09 new oil and gas discoveries (06 inside the country and 03 abroad).
- Fifteen new oil and gas contracts were signed (13 inside the country and 02 abroad).
- Seven joint cooperation agreements were signed in oil and gas sector with national petroleum corporations of Nicaragua, Bolivia, Argentina, Kazakhstan, Mozambique, Angola, and Sudan.
- Joint venture Rusvietpetro was put into operation in Russia; a Petrovietnam-Gazprom strategic cooperation agreement and contract to establish joint venture Gazpromviet in Russia were signed.
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