Russia's Zarubezhneft to harvest offshore Vietnam gas field from 2025

Russia’s state-owned Zarubezhneft will begin to harvest next year the 10.03 billion cubic meter Thien Nga-Hai Au gas field, 320 kilometers southeast off the southern province of Ba Ria-Vung Tau.

A draft environmental impact report by the Ministry of Natural Resources and Environment notes that first exploration activities in the Block 12/11 field were conducted in 1995 by a Canadian business.

Zarubezhneft EP Vietnam B.V., the Vietnamese subsidiary of Zarubezhneft, acquired rights to the gas field in June 2023.

Zarubezhneft aims to install equipment for the BK-TNHA rig (first phase) from the third quarter of 2025 to Q3/2026; and for the BK-TN rig (second phase) from Q3/2029-Q4 2029.

The capital expenditure for the project is $348.7 million: $108.7 million for BK-TNHA rig; $103.9 million for BK-TN rig; $32.5 million for equipment on CPP Rong Doi rig; and $103.5 million for pipelines.

Zarubezhneft will start exploiting the gas field starting with 149.6 million cubic meters in 2025, and receive first gas flow from Q4/2026.

The exploitation is set to peak at about 620 million cubic meters annually in 2026-2033 and fall to 26.9 million cubic meters in 2047.

Zarubezhneft has been in Vietnam since 1981 as a partner in Vietsovpetro, the Vietnam-Russia oil and gas joint venture.