Search

In response to the 'double impact' caused by the Covid-19 epidemic and the sharp decline in oil prices, the Vietnam Oil and Gas Group (PVN) has proactively made the plans to adjust the Program of the action and budget of oil and gas  projects in 2020 corresponding with the oil price scenarios to timely cope with complicated market development.

With a view to increasing oil and gas reserve and discovering new fields to meet domesticdemand and export, Petrovietnam has been carrying out effective exploration and production of oil and gas both at home and abroad through PSC, JOC, JOA, BCC contracts, self-investment and self-management in exploration, making important petroleum discoveries, quickly bringing the discovered fields into production phase with the application of state-of-the-art technologies to increase production as well as oil and gas recovery rate, thus protecting the environment and natural resources.

As a part of the program of the official visit to the Russian Federation by Prime Minister Nguyen Xuan Phuc (May 20-23),  on May 22, in Moscow, PetroVietnam Exploration Production Corporation (PVEP) signed two documents including the Agreement to transfer the Lot 09-2/09 (in Cuu Long sedimentary basin of Vietnam continental shelf) and the Memorandum of Understanding (MOU) between PVEP and Zarubezneft Petroleum Company (Russian Federation).

On March 14, 2019, Deputy Prime Minister (DPM) Trinh Dinh Dung received Vice Chairman of Gazprom Group (Russia). The Vice President of Gazprom proposed to the Vietnamese Government that in the coming time, Gazprom wants to develop more new investment projects in Vietnam in the oil and gas field, from exploration, exploitation, transportation to processing and trading  products ...

The long term cooperation and the highly mutual trust between Vietnam and Russia allow the two nations’ oil and gas companies to strengthen cooperative ties, the Russian News Agency Ria Novosti quoted Foreign Ministry Spokeperson Maria Zakharova as saying on March 11.

A delegation from the Vietnam National Oil and Gas Group (PetroVietnam) headed by Chairman of its Member Council Nguyen Quoc Khanh accompanied State President Tran Dai Quang on his visit to Cambodia in mid-June. They joined many activities aiming to increase oil and gas cooperation between the two countries.

Receiving the invitation of Ministry of Industry, Mine and Energy; and Petrolium Central Board of Cambodia, mission team of a Mission of Vietnam Petrolium Corperation(PVN) headed by Deputy Director General Nguyen Quoc Thap and the directors of Petrovietnam Exploration and Production Corporation (PVEP) and PVEP Overseas had a working visit  to  Cambodia during the first two day of April, 2014.

By the 24th hour on December 31st, 2013, the production output of Vietnam National Oil and Gas Group (PetroVietnam) had reached 16.71 million tonnes of oil and 9.75 billion m3 of gas.

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).

The Government has just issued Decree No. 99/2020/ ND-CP on the regulations to punish the administrative violations in the petroleum relevant activities (searching, exploring, exploiting and trading petroleum). The Decree stipulates the maximal administrative violation in exploring and exploiting oil and gas as 01 billion VND for an individual and 02 billion VND for an organization.

The oil and gas industry meets about 40 percent of Vietnam’s primary energy demand and plays a crucial role in the country’s national energy security. However, the sector is facing difficulties due to regulations and policies that no longer satisfy its actual development demands.

In the framework of the official visit of the Russian Federation, on September 6, at the Botraroov Rutrei Edifice, Sochi city, General Secretary Nguyen Phu Trong and President Vladimir Putin witnessed a ceremony for signing many cooperation documents between the two countries.

Politburo member and head of the Party Central Committee’s Economic Commission Nguyen Van Binh on January 25 stressed the need to complete institutions for the development of the oil and gas sector.

On October 17, 2018, in Government Office, Vice Prime Minister Trinh Dinh Dung received Mr. Naser Al Hajri- Deputy general manager of Mubadala Petroleum Group (MP) from United Arabia Emirates (UAE) in charge of affairs in Southeast Asia. At the meeting, Mr. Naser Al Hajri expressed MP desire to develop the small oil and gas and renewable energy projects in Vietnam.

At the meeting with Mr. Do Thang Hai, Vice Minister of Industry and Trade, Mr. Ajay Shah, Vice President of Royal Dutch Shell expressed the desire to strengthen cooperation with Vietnamese enterprises in oil and gas field and presented several potential opportunities for cooperation with PetroVietnam.