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Vietnam Energy Forum

PVEP and VSP signed the EPCI contract for Phase 3, Lot 05 1a, Dai Hung Field Development Project

 - 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).

Speaking at the signing ceremony, Mr. Tran Manh Cuong - Head of the Petroleum Contract Management Board of PVN highly appreciated the determination of the PVEP and PVEP POC and believed that VSP with its prestige and ability will well implement this contract.

He said VSP and PVEP are the main force units of PVN that have efficient and substance cooperation in petroleum survey and development, contributing to the general development of PVN.

Mr. Tran Hong Nam – PVEP's General Director said it is not a contract for constructing an ordinary wellhead but a wellhead for increasing production from a field that has been exploited for more than 20 years – where PVEP has planned to drill 1-2 test wells to bring out the surrounding blocks and reach out to another wellhead rig.

According to Mr. Nam, the Dai Hung field has experienced many ups and downs, but PVEP offered solutions to prolong the project. This is the expected future of the PVEP POC, PVEP and VSP employees. At the same time, they hope to receive the first oil from phase 3 of the Dai Hung field on the 30th anniversary of the exploiting occasion of the Dai Hung field.

Speaking at the signing ceremony, Mr. Tran Xuan Hoang - Deputy General Director of VSP said that the EPCI contract for phase 3 of Dai Hung field development is an important project of the PVEP general contractor and PVEP POC, that has not only significant economic and technical, but also political and social significance. With the geographical difficulties such as the field locates offshore with deep water levels and hydro-meteorological complicacy from developing EPCI for the wellhead and installing the hard and soft oil pipeline system connectors to reforming the existing HD01 rig. VSP always exerts itself to respond to the confidence of the investor and its highly valuable experience from the period for developing phase 2 of the DH2 rig.

"With the active and effective support of the investor, management measures and scientific production organization, VSP believes that the project will be successful on all criteria of safety, quality, schedule progress and cost savings" - Deputy General Director of VSP emphasized.


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