CEO of PV Gas Phạm Văn Phong chairs the meeting — Photo: pvn.vn

Petrovietnam Gas (PV Gas), Petrovietnam Exploration Production Corporation (PVEP) and their Russian partner - the State-owned Zarubezhneft have agreed to continue their partnership to jointly exploit the Thiên Nga-Hải Âu gas field off Việt Nam’s southeastern region.

The agreement was reached at a recent meeting at PV Gas’s headquarters in HCM City among President and CEO of PV Gas Phạm Văn Phong, CEO of Zarubezhneft EP Việt Nam Alexander I. Mikhaylov, and CEO of PVEP Trần Hồng Nam.

At the meeting, representatives from Zarubezhneft EP Việt Nam briefed the partners about the Thiên Nga-Hải Âu gas field in Block 12.11, located in the western part of the Nam Côn Sơn basin.

According to the reserve assessment report approved by the Prime Minister in Decision No 467/QĐ-TTg dated April 14, 2022, about 7.43 billion cubic meters of gas will be tapped from the Thiên Nga-Hải Au field and provided for the southeast region in the 2026-2037 period. The first gas flow is expected in Q4/2026.

For its part, PVEP, a subsidiary of State-run Petrovietnam, also informed the parties about co-operation in exploiting the gas field and bringing gas onshore using the existing the Nam Côn Sơn 1 gas pipeline infrastructure, through the Rồng Đôi platform in Block 11.2.

This cooperation will lay ground for the development of the Rồng Đôi Mới field and undiscovered reserves in Block 11.2, PV Gas said in a statement on its website.

CEO of PV Gas Phạm Văn Phong asked PVEP and Zarubezhneft to continue updating the firm on the progress of the Thiên Nga-Hải Âu field, and co-ordinate efforts to explore and implement new gas projects and provide gas for the southeastern region.

The PetroVietnam Exploration Production Corporation (PVEP) is the upstream arm of Việt Nam Oil & Gas Group (PetroVietnam), conducting the core business of exploration and production. Over decades of building and development, PVEP has grown tremendously and contributed remarkably to the national economy. It is now one of the biggest companies in Việt Nam and ranks among the top oil companies in the region.

Meanwhile, PV Gas is a leading gas enterprise in Việt Nam. It is currently Việt Nam’s biggest dry gas and LPG supplier, contributing to ensuring national energy and food security. Currently, each year the corporation provides a stable source of raw materials and fuel to produce nearly 11 per cent of electricity output, and 70 per cent of nitrogen demand and fuel for many industrial parks. It also occupies 100 per cent of the dry gas market share, and about 70 per cent of the wholesale market share and nearly 11 per cent of the retail market share of LPG.

Zarubezhneft has been present in Việt Nam for nearly 40 years with engagement in the Bạch Hổ (White Tiger), Rồng (Dragon), and Thiên Ưng (Eagle) fields, among others. It holds a 49 per cent stake in Vietsovpetro, a joint venture with Petrovietnam.

Zarubezhneft and PV Gas have been partnering to deploy gas projects in Việt Nam. They signed a memorandum of understanding on the purchase and sale of gas from the Thiên Nga-Hải Âu field, 320km southeast of the southern province of Bà Rịa-Vũng Tàu on March 15 this year. — VNS