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Vietnam Energy Forum

Welcome the first commercial oil flow of Vietnam - Peru cooperation to Market

 - On April 1st, in Lima the capital of Republic of Peru, Petrovietnam Exploration and Production Corporation (PVEP) and Peru Petroleum Corporation (Perenco) held a valve opening ceremony for sale of the first commercial oil flow from Lot 67 in Peru.


Valve Opening Ceremony for the first commercial oil flow.

Lot 67 is the second project of Petrovietnam (PVN) in Peru, before that in the vicinity, Lot 39 project was signed . Through the strategy of buying available petrolium assets for early exploitatation in order to make reasonable investment to oversea oil and gas exploration and exploitation , Petrovietnam has  agreed to allow PVEP to negotiate with Perenco Company to buy 52,6% of Perenco Peru Limited shares for  owning 50% of participating rights in Lot 67 petrolium contract (including Pirana and Dorado deposits). This project is the first foreign assets of PVEP.

After 3 year implementation, development project in Piranha and Dorado deposits of Lot 67 has been successfully completed  with the initial oil output about 6000 barrels per day. Now, oil from these mines is shipped by barges (there are about 20 barges, capacity of  10.000 barrels/barge) every day from the mining area in Amazon jungly, crossing 600km to Peru national oil collecting station number one for sale . In  future, a 175km oil pipe connecting the mines to Peru national oil pipe system will be constructed for guaranteing the stable exploitation and saving costs. 

Speaking at the ceremony, Mr Luis Ortigas Cuneo, President of PeruPetro highly appreciated the successful cooperation  between Petrovietnam via PVEP and Perenco. This is the first time after 40 years that a foreign joint-venture has overcome geographic and geologic difficulties to put the mines in Peru into operation .

PVN Director General Do Van Hau thanked  the Government, Ministry of Energy and Mining, National Petroleum Corporation of Peru for their assisting and facilitating Perenco and PVEP in developing the mines at Lot 67. He also congratulated the  officers and workers of Perenco – PVEP joint-venture on the success of the project and their effort and contribution. Producing the first commercial oil flow from Dorado and Pirana mines of Lot 67 is not only the remakable milestone for PVEP in oil and gas activitives in Southern America, but also for Perenco and Peru Government. This success also marks notable event in oil and gas exploration and exploitation of PVEP in particular and Petrovietnam in general overseas: Russia and SNGs, South East Asia, North Africa, Middle East and Latin America.




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