Gazprom and PetroVietnam discuss progress of joint projects

RELEASE

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Tran Sy Thanh, Chairman of the Board of Directors of Vietnam Oil and Gas Group (PetroVietnam), took place in Moscow today.

The parties discussed a wide range of joint efforts, including geological exploration and hydrocarbon production in Vietnam, as well as the prospects of joint projects in gas-fired power generation, the use of gas as a vehicle fuel, and staff training.

It was noted that the Moc Tinh and Hai Thach fields were expected to produce 2 billion cubic meters of gas (target level) in 2018.

Alexey Miller and Tran Sy Thanh reviewed the progress of the joint project for the construction of a small-scale LNG production complex, which would produce LNG for the NGV market, and a network of CNG filling stations. To date, marketing studies and a feasibility report had been completed for the project.

 

Background

Vietnam’s PetroVietnam Group is focused on hydrocarbon exploration, production, processing, transportation and marketing. Gazprom and PetroVietnam collaborate under the Agreement on strategic cooperation.

Vietgazprom, a joint operating company established by Gazprom and PetroVietnam on a parity basis, is engaged in exploration in licensed blocks Nos. 111/04, 112, 113 and 129–132 located on the continental shelf of Vietnam. Gazprom is represented in the joint venture by Gazprom EP International B.V., a specialized company for the implementation of hydrocarbon prospecting, exploration and development projects outside Russia.

Since 2013, Gazprom EP International B.V. and PetroVietnam have been engaged in commercial gas and condensate production from the Moc Tinh and Hai Thach fields offshore Vietnam.

In 2015, PVGAZPROM Natural Gas for Vehicles, a joint Russian-Vietnamese company focused on the use of natural gas as a vehicle fuel, was registered. The joint venture consists of Gazprom EP International B.V. (35.5 per cent), Gazprom Gazomotornoye Toplivo (35.5 per cent), and PETROVIETNAM GAS (29 per cent).

 

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