Vietsovpetro plans $484 mln investment to further exploit White Tiger oil field
Vietnam-Russia joint venture Vietsovpetro plans to invest VND12.5 trillion ($483.6 million) to further develop the Bach Ho (White Tiger) oil field, the largest of its kind in Vietnam.
According to its environmental impact assessment (EIA) report for the 2025 development of Bach Ho oil field in Block 09-1 offshore Vietnam, Vietsovpetro plans to install two unmanned wellhead rigs BK-10A and BK-26, upgrade the existing BK-10 and MSP-8 rigs, and drill 53 new wells.
The wells are scheduled to come online between 2025 and 2028, and will be connected to the field’s existing exploitation infrastructure.
Bach Ho (White Tiger) field in Vietnam's Block 09-1, operated by Vietsovpetro since 1986. Photo courtesy of PetroTimes.
The investment aims to maximize resource recovery and stabilize production at Block 09-1, which has been under continuous development since 1986, the company said.
Of the total investment, nearly $419.7 million will be allocated to drilling operations, while $64 million (VND1.66 trillion) will fund rig installation and upgrades.
The expanded capacity is expected to reach 2,029 cubic meters of oil and 343,000 cubic meters of gas per day at peak production.
Vietsovpetro is a 51:49 joint venture between Vietnam’s state-run Petrovietnam and Russia’s Zarubezhneft. Since its establishment in 1981, the venture has extracted more than 253 million tons of crude oil and 40.1 billion cubic meters of natural gas, generating over $96 billion in revenue and contributing nearly $60 billion to Vietnam’s state budget and national income.
In 2025, Vietsovpetro aims to maintain annual production at over 2.8 million tons at Block 09-1 and complete key infrastructure, including the BK-24 rig.
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