On working meeting between Alexey Miller and Bui Dinh Dinh
Gazprom’s Headquarters today hosted a working meeting between Alexey Miller, Chairman of Gazprom's Management Committee and Bui Dinh Dinh, Ambassador Extraordinary and Plenipotentiary of the Socialist Republic of Vietnam to Russia.
The parties examined the main issues with regard to further development of the Russian-Vietnamese cooperation in the oil and gas sector.
The parties expressed a common opinion that the strategic partnership in the upstream area was progressing successfully.
On November 20, 2006, Gazprom and PetroVietnam entered into the Agreement of Cooperation. The Agreement stipulates cooperation between the companies in the following areas:
- exploration, production, transportation, utilization and marketing of natural gas, oil and other energy carriers;
- engineering, construction, operation and maintenance of oil and gas pipelines, storage facilities as well as distribution networks;
- inspection and monitoring of the technical condition and safety of gas and oil pipelines as well as other gas and petrochemical infrastructure facilities;
- utilization of oil and gas as a vehicle fuel, development and management of gas distribution and fuelling station networks;
- processing of oil, gas and other hydrocarbons;
- supplies of oil and gas processing products as well as oil and gas industry equipment.
The Agreement also envisages interaction between the companies within promising projects in third countries, including in the area of oil and gas field exploration and development.
Prospecting works in Block 112 offshore the Socialist Republic of Vietnam are performed by Vietgazprom, the Joint Operating Company of Gazprom and PetroVietnam (Vietnam Oil and Gas Corporation) pursuant to the Contract signed on September 11, 2000. The Contract contemplates searching for, exploring, producing and marketing hydrocarbons.
In 2005 the decision was taken to extend the application of the contract to involve the adjacent Block 113.
In August 2007 a commercial gas inflow was reported during the first exploratory well testing in Bao Wang as part of the prospecting activities in Block 112 offshore Vietnam in the Gulf of Bac Bo performed by Vietgazprom.
According to the survey data, the gas inflow was rated at up to 400 thousand cu m, with gas condensate found in the well stream.
The scheduled gas dynamic study is currently underway on the inflow characteristics. An operational appraisal of hydrocarbon reserves and proposals on further directions of in-place exploration activities are due in the near future.