PV Gas, PVEP partner with Zarubezhneft to tap Vietnam gas field
Russia’s state-owned Zarubezhneft and Vietnamese partners PV Gas and PVEP have agreed to continue their partnership to jointly exploit the Thien Nga-Hai Au gas field off the country’s southeastern region.
The agreement was reached at a meeting at PV Gas’s headquarters in Ho Chi Minh City on Monday between CEO of PV Gas Pham Van Phong, CEO of Zarubezhneft Company EP Vietnam Alexander I. Mikhaylov, and CEO of Petrovietnam Exploration Production Corporation (PVEP) Tran Hong Nam.
CEO of PV Gas Pham Van Phong (second, right) speaks at a meeting with executives of PVEP and Zarubezhneft in Ho Chi Minh City, May 20, 2024. Photo courtesy of PV Gas.
At the meeting, Zarubezhneft EP Vietnam Company briefed the partners about the Thien Nga-Hai Au gas field in Block 12.11, located in the western part of the Nam Con Son basin.
According to the reserve assessment report approved by Prime Minister Pham Minh Chinh in Decision No. 467/QD-TTg dated April 14, 2022, about 7.43 billion cubic meters of gas will be tapped from the Thien Nga-Hai 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 cooperation in exploiting the gas field and bringing gas onshore using the existing the Nam Con Son 1 gas pipeline infrastructure, through the Rong Doi platform in Block 11.2.
CEO of PVEP Tran Hong Nam (first, left) and CEO of Zarubezhneft Company EP Vietnam Alexander I. Mikhaylov (second, left) at a meeting with executives of PV Gas in Ho Chi Minh City, May 20, 2024. Photo courtesy of PV Gas.
This cooperation lays ground for the development of the Rong Doi Moi field and undiscovered reserves in Block 11.2, PV Gas said in a statement on its website.
CEO of PV Gas Pham Van Phong asked PVEP and Zarubezhneft to continue updating the firm on the progress of the Thien Nga-Hai Au field, and coordinate efforts to explore and implement new gas projects and provide gas for the southeastern region.
Zarubezhneft has been present in Vietnam for nearly 40 years with engagement in the Bach Ho (White Tiger), Rong (Dragon), and Thien Ung (Eagle) fields, among others. It holds a 49% stake in Vietsovpetro, a joint venture with Petrovietnam.
Zarubezhneft and PV Gas, also a subsidiary of Petrovietnam, have been partnering to deploy gas projects in Vietnam. On March 15, 2024, they signed a memorandum of understanding on the gas purchase and sale of the Thien Nga-Hai Au field, 320 kilometers southeast of the southern province of Ba Ria-Vung Tau.
Zarubezhneft EP Vietnam B.V. acquired rights to the gas field in June 2023.
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