Oil & Gas

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.

As part of the test plan of the Thi Vai LNG project chain, on June 27, 2023, Vietnam Gas Corporation - PV GAS successfully carried out the first gas flow into the Thi Vai - Phu My gas pipeline (at Hoi Bai Vale station, Phu My town, Ba Ria - Vung Tau province).

After highly agreeing to propose the Prime Minister agreed to transfer the investor of O Mon 3 and O Mon 4 gas-fired thermal power projects from the Electricity of Vietnam (EVN) to the Vietnam Oil and Gas Group (PVN). Deputy Prime Minister Tran Hong Ha proposed the two sides urgently transfer all the implementation results, as well as the obligations and responsibilities of the investor related to these two projects.

On May 22, 2023, Vietnam Gas Corporation (PV GAS) signed a Confirmation Notice with supplier Shell, whereby Shell will deliver the first LNG cargo to Vietnam.

PetroVietnam Exploration Production Corporation (PVEP) informed that recently, in Ha Long city, Quang Ninh province, took place the 2023 annual summit between SK Earthon (Korea) and PVEP.

The Vietnam Oil and Gas Group (PVN) informed that, In the first quarter of 2023, although the economic situation of Vietnam faced many difficulties, PVN continuously held fast to the stable production, business rate and maintained the production output at high level.

According to the forecast of analyzing the factors affecting production and business activities in 2023 of the Vietnam Petroleum Group (PVN) Branch - the East Sea Petroleum Operation Company (BIENDONG POC) the operation area in petroleum researching, exploring, and exploiting (E&P) in recent years were narrowed and not improved yet in 2023 due to the complex of the East Sea situation. The increase of the petroleum reserves in the immediate and long-term faces many difficulties.

The Ministry of Industry and Trade (MOIT) issued Document No 284/TB-BCT, dated November 28, 2022 about the conclusion of Deputy Minister Dang Hoang An on deploying the Block B – O Mon gas-electricity project chain.

The Vietnam Oil and Gas Group (PVN) informed that On November 23, 2022, in Vung Tau city, the Domestic Petroleum Exploration and Production Company (PVEP POC) under the Petroleum Exploration Production Corporation (PVEP) and Vietnam - Russia Joint Venture (Vietsovpetro - VSP) signed an EPCI contract (Engineering, Procurement, Construction and Installation) for Phase 3, Lot 05 1a of the Dai Hung field development project. (The Enterprise of Oil and Gas Construction, Survey and Repair Exploitation is assigned by Vertical Seismic Profile (VSP) to implement this project).

Vietnam Oil and Gas Group (PVN) informed that PVN finished the 2022 plan for crude oil exploitation with 8.74 million tons on October 22, 2022, 2 months and 9 days ahead of schedule. In a general total of 10 months, PVN exploited 9.03 million tons, exceeding 3% of the 2022 year plan and equaling 99.4 % of the amount in the same period in 2021.

At Thuan Dao Industrial Park, Long An Province, Vietnam CNG Joint Stock Company held a Ceremony for starting the construction of a liquefied natural gas (LNG) supply station.

In a mission to the Russian Federation (from September 19 to 23), Mr. Le Manh Hung - General Director of the Vietnam Oil and Gas Group (PVN) and the delegates had a visit and working meeting at the oil and gas fields blocks under the Rusvietpetro Joint Venture a joint venture between PVN and Zerubrezhneft, in the Russian Federation.

On September 11, in Hanoi, Prime Minister Pham Minh Chinh worked with the Vietnam Oil and Gas Group (PVN) to assess the world energy situation, forecast the upcoming situation and determine the roles and tasks solutions to speed up the implementation of a number of key projects, handle difficulties, problems and recommendations of PVN.