Oil & Gas

In Ho Chi Minh City, Vietnam Gas Corporation (PV GAS) with Jadestone Energy Petroleum Company - JSE (United Kingdom-UK) and Vietnam Oil and Gas Group (PVN) have just signed a gas trading framework agreement of Nam Du - U Minh gas field.

Prime Minister Pham Minh Chinh has just signed Decision No. 1668/QD-TTg appointing Mr. Le Manh Hung - Member of the Board of Members, General Director of Vietnam Oil and Gas Group (PVN) to hold the position of Chairman of the Board of Members of PVN from January 1, 2024. (The appointment period is 5 years).

At 3:00 p.m. on December 18, 2023, the Vietnam - Russia Joint Venture Vietsovpetro was pleased to welcome the first commercial oil flow from the BK-4A platform of Bach Ho field (12 days earlier than planned).

The Petroleum Exploration and Production Corporation (PVEP) informed that Vietnam Oil and Gas Group (PVN) and PVEP have just joined the working group of the Central Committee of Internal Affairs, led by Head of the Committee Phan Dinh Trac visited and worked in the Republic of Venezuela. In the framework of the business trip, PVN, PVEP and Venezuelan partners discussed the Block Junin 2 oil and gas project.

Vietnam Oil and Gas Group (PVN) and Malaysia National Petroleum Corporation (Petronas) have just signed a Memorandum of Cooperation (MoC). The signed memorandum will strengthen the existing cooperation foundation, as well as create new momentum for strategic cooperation between the two sides in traditional oil and gas fields and new fields (renewable energy, applying technology in reducing CO2 emissions).

On October 30 in Hanoi, in the presence of Prime Minister Pham Minh Chinh, Vietnam Oil and Gas Group (PVN) and its partners signed relevant contracts and implemented the Block B-Omon gas-to-power value chain project, marking an important step forward in this value chain project which has lasted nearly 20 years.

Deputy Prime Minister Le Minh Khai signed Decision No. 1243/QD-TTg to approve the "Project to restructure Vietnam Oil and Gas Group (PVN) for the period until the end of 2025".

On the afternoon of October 26, 2023, the result of drilling exploration well by the oil and gas joint venture Innovation (SK) and the Petroleum Exploration and Exploration Corporation (PVEP) in the 16-2 Block of the Golden Hippopotamus (Ha Ma Vang) Structure has discovered oil and gas.

Within the framework of "Russian Energy Week", the Minister of Industry and Trade of Vietnam Nguyen Hong Dien had a working meeting with the Minister of Energy of the Russian Federation Nikolai Gregorievich Shulginov. At the meeting, the two sides reviewed the implementation situation of bilateral energy projects, as well as agreed on a number of major cooperation directions to be implemented in the near future.

Vietnam Oil and Gas Group (PVN) informed that In the first 9 months of the year, the Group has exploited the domestic and foreign oil output at a high level: Specifically, PVN achieved an oil exploitation output of 7.85 million tons, exceeding 14.1% of the 9-month plan, equal to 84.6% of the year plan.

Deputy Prime Minister Tran Hong Ha has just signed Decision No. 861/QD-TTg dated July 18, 2023, approving the national planning infrastructure for reserving and supplying petrol, oil and gas (in the period 2021 - 2030, with a vision up to 2050).

Vietsovpetro informed that at 7:00 am on July 15, 2023, Vietsovpetro opened well R-24, then at 9:06 am on the same day opened well R-66 and welcomed the first commercial oil flow from the RC-8 rig at Dragon (Rong) field.

The Chairman of Binh Thuan Provincial People's Committee (PPC) signed the Decision for agreeing the investment policy of the Son My LNG Terminal project and the investor of Son My LNG Terminal Co., Ltd. to implement this project.

From now to 2025, the Vietnam Oil and Gas Group (PVN) will expect to exploit 6 - 10 new oil and gas projects including RC-8 of Dragon field, BK-22 rig, and BK-4A rig of Bach Ho field and a number of structures in Block 09.1, White Whale (Kinh Ngu Trang) – Southern White Whale field, Lot 05.1a, Gold Camel -A rig and 2 gas projects as Swan – Gull (Thien Nga - Hai Au), Nam Du - U Minh fields. In the period of 2025 - 2030, PVN will strive to put large gas projects into operation such as Block B (quarter 4/2026), White Lion (Su Tu Trang) - Phase 2 B (September 2026), and Blue Whale (2028).

On July 01, 2023, the Government promulgated Decree 45/2023/ND-CP for the detailed regulations on a number of articles of the Petroleum Law, including regulations on safety in the design, manufacture, construction and operation of petroleum projects.