Japan Vietnam Petroleum Company's Block 15-2 output hits 250 mln barrels
Japan Vietnam Petroleum Company, Ltd. (JVPC), a wholly owned subsidiary of Japan’s JX Nippon Oil & Gas Exploration Corporation (JX), has reached the milestone of producing 250 million barrels of oil from Vietnam’s Block 15-2.
In a Thursday release, JVPC said it has been the operator of Rang Dong and Phuong Dong oil fields since the partial acquisition of Block 15-2 offshore southern Vietnam in 1992. JVPC started oil production in 1998 and the produced oil has been supplied to the Vietnamese market and other Asian countries including Japan.
At Block 15-2, JVPC holds a 39.5% interest in the two oil fields, while 30% is owned by PVEP, the exploration-production arm of state-owned Petrovietnam. The remaining 30.5% belongs to Singapore-headquartered Batavia Oil.
Oil rigs at Rang Dong oil field, offshore southern Vietnam. Photo courtesy of Petrovietnam.
JVPC is highly evaluated by Vietnamese authorities for its various initiatives, including the world's first implementation of the clean development mechanism (CDM) project in the oil and gas industry for the recovery and effective utilization of crude oil and gas, according to the release.
It is also known for the introduction of Vietnam’s first HCG-EOR, a technology for enhanced oil recovery (EOR) by injecting hydrocarbon gas. Another initiative in Vietnam is the implementation of CO2-EOR pilot test.
Furthermore, JVPC maintains safe and stable operations with a record of over 20 consecutive years of zero lost time injuries, it added.
Rang Dong and Phuong Dong oil fields within Block 15-2, offshore southern Vietnam. Photo courtesy of JVPC.
In December 2021, JX Nippon Oil & Gas Exploration announced that JVPC and PVEP signed a memorandum of understanding to extend the joint operations at Block 15-2 beyond April 2025 when the license expires.
- Related News
- Read More
Trinh Van Tuan: The man behind PC1’s rise and the unexpected turn at the end of his career
Trinh Van Tuan’s career reflects the rise of an engineer-turned-businessman who helped expand PC1 into one of Vietnam’s notable infrastructure and energy groups. But at the closing stage of his career, an unexpected legal turmoil is now casting uncertainty over the future not only of Tuan himself, but also of the company shaped by his influence for more than 20 years.
Companies - Mon, May 18, 2026 | 8:17 am GMT+7
Chinese giant explores infrastructure, agriculture, education opportunties in central Vietnam
Su Shang Construction Group Co., Ltd., a major Chinese infrastructure developer, has expressed interest in investing in several large-scale infrastructure projects in Vietnam’s central province of Gia Lai under the financing-engineering-procurement-construction-operation (FEPCO) model.
Industries - Sun, May 17, 2026 | 6:08 pm GMT+7
13 investors eye major stakes in state-controlled beer maker Viet Ha
As many as 13 domestic investors eye major stakes in Viet Ha Investment and Trading JSC, owner of the long-established Viet Ha beer brand and controlled by the Hanoi People's Committee.
Companies - Sun, May 17, 2026 | 11:13 am GMT+7
HCMC targets mega-city of 22 mln people with ‘one-hour mobility’ vision
Ho Chi Minh City is targeting a population of 20-22 million by 2050 and aims to become one of the world’s most livable cities, as Vietnam’s largest economic hub pursues an ambitious transformation into a multi-centered mega-city supported by modern transport infrastructure and a maritime-driven economy.
Economy - Sun, May 17, 2026 | 9:00 am GMT+7
Southeast Asia’s largest iron ore mine set for $3 bln revival after 15 years in limbo
After remaining dormant for 15 years, Vietnam’s Thach Khe iron ore mine is set for a major restructuring that could pave the way for a new VND80,000 ($3.04 billion) mining and steel complex aimed at producing high-quality steel products instead of exporting raw ore.
Industries - Sun, May 17, 2026 | 8:00 am GMT+7
JC&C-backed REE’s longtime chairwoman to step down as son takes CEO role
Ho Chi Minh City-based utility firm Refrigeration Electrical Engineering Corp (HoSE: REE) is reshaping its leadership structure in a transition that marks the gradual handover of executive responsibilities to a younger generation.
Companies - Sat, May 16, 2026 | 6:13 pm GMT+7
Vietnam fines Shopee for misleading free shipping promotion
Vietnam’s competition authority has fined e-commerce platform Shopee VND200 million ($7,590) for providing misleading information to consumers in promotional campaigns.
Companies - Sat, May 16, 2026 | 4:48 pm GMT+7
Vietnam Deputy PM requests study of VAFIE proposals to build ‘leading’ economic groups
Vietnam’s Deputy Prime Minister Nguyen Van Thang has instructed ministries and state agencies to study recommendations from the Vietnam's Association of Foreign Invested Enterprises (VAFIE) on developing “leading” economic groups aimed at fostering large domestic corporations capable of competing regionally and globally.
Companies - Sat, May 16, 2026 | 1:03 pm GMT+7
Vietnam funds lag benchmark despite VN-Index hitting record highs
Vietnam’s benchmark VN-Index has surged to successive record highs in recent weeks, but many of the country’s largest investment funds have significantly underperformed the market, with some still posting negative returns for the year.
Finance - Sat, May 16, 2026 | 9:36 am GMT+7
Vietnam developer Hung Thinh Incons targets 3.5-fold revenue growth despite weak start to 2026
Ho Chi Minh City-headquartered Hung Thinh Incons has set a target to more than triple revenue in 2026 as the builder bets on public investment spending and a recovery in Vietnam’s construction market, despite continued pressure on its business performance.
Companies - Sat, May 16, 2026 | 8:00 am GMT+7
Vingroup to hire 20,000 workers for $35 bln Hanoi sports urban project
Vietnamese conglomerate Vingroup (HoSE: VIC) has announced the first-phase recruitment of over 20,000 workers for its massive Olympic Sports Urban Area project and other developments in Hanoi.
Companies - Fri, May 15, 2026 | 9:20 pm GMT+7
EVN eyes floating solar projects in central Vietnam
EVNGENCO1, a subsidiary of Vietnam’s state-owned utility Vietnam Electricity (EVN), is looking to invest VND4.4 trillion ($167 million) in three floating solar power projects in the central province of Lam Dong, expanding its push into renewable energy as Vietnam accelerates efforts to diversify electricity supply and cut carbon emissions.
Energy - Fri, May 15, 2026 | 3:53 pm GMT+7
Philippines' Jollibee earns over $16 mln from fried chicken, coffee chains in Vietnam in Q1
he Philippines’ Jollibee Foods Corporation (JFC) earned an EBITDA (earnings before interest, taxes, depreciation, and amortization) of over PHP1 billion ($16.2 million) from its fried chicken chain Jollibee and Highlands Coffee chains in Vietnam in Q1/2026.
Companies - Fri, May 15, 2026 | 3:42 pm GMT+7
Vietnam’s rapid growth in Asia-Pacific drives demand for higher operational standards: Savills
Being ranked among the Top 20 APAC Growth Hubs reinforces Vietnam’s appeal as a destination for international businesses, accelerating office expansion and multi‑site occupancy by regional and global tenants, write Savills Vietnam analysts.
Economy - Fri, May 15, 2026 | 3:33 pm GMT+7
Carlsberg Vietnam recognized with prestigious international, domestic honors
As expectations around sustainability continue to evolve, recognition for businesses is no longer driven by short-term outcomes, but by how they operate, adapt, and create value over time.
Companies - Fri, May 15, 2026 | 3:21 pm GMT+7
PV Drilling signs jack-up rig contract with Zarubezhneft EP Vietnam
PV Drilling, a subsidiary of state-owned Petrovietnam, has signed a contract to provide a jack-up drilling rig for Zarubezhneft EP Vietnam's development drilling campaign at the Thien Nga-Hai Au field in Block 12/11 offshore Vietnam.
Companies - Fri, May 15, 2026 | 2:03 pm GMT+7
