Accord opens offshore Vietnam field development drilling

Offshore staff

HANOI, Vietnam – Gazprom and Petrovietnam have signed agreements on staff training and on Gazprom International’s involvement in joint development projects offshore Vietnam.

These relate to licensed blocks 05.2 and 05.3 in the South China Sea. Gazprom International will be allocated a 49% interest in the Production Sharing Agreements.

Block 05.2 contains the Kim Cuong Tay oil field discovery, and shares the Hai Tach gas/condensate field with block 05.3. The latter also holds the Moc Tinh gas condensate field. Total volumes of gas and condensate are estimated at 55.6 bcm (1.96 tcf) and 25.1 MMt.

The partners plan to drill 16 production wells 2,000- 4,600 m (6,562-15,092 ft) deep to develop the fields.

In April 2010 the Vietnamese State Expert Review Commission approved the joint development plan for Hai Tach and Moc Tinh.


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...