Pvep Strengthens Cooperation with Russian Petroleum Partners

Source: www.gulfoilandgas.com 10/3/2017, Location: Asia

At the invitation of the CEO of Gazprom EP International Mr. Sergey Tumanov, a PVEP delegation headed by President and CEO Dr. Ngo Huu Hai paid a working visit to Gazprom EP International in Saint Petersburg.

During the meeting, both sides exchanged views on the cooperation in petroleum blocks in Viet Nam such as Blocks 111, 112, 113; and deepwater Blocks 129, 130, 131, 132.

Dr. Ngo Huu Hai expressed appreciation for the warm and sincere hospitality from Gazprom, as well as for Gazprom's willingness to promote cooperation, provide consultation for many of PVEP's domestic and overseas petroleum projects.

During the meeting, PVEP's CEO suggested that Gazprom take into consideration the inclusion of the 3D simulation of 1600 km2 kinetic survey of A1 potential feature in Blocks 111, 112, 113 of Bao Vang Well in 2018's work agenda and budget to serve as the basis for final well development decision. Gazprom took note of PVEP recommendation, and shared that this will be dependent on the response from the Vietnamese and Russian Governments about the construction of a thermal electricity plant in Quang Tri province. Gazprom has selected Power Engineering Consulting Company No. 2 as the Consultant and developer of the feasibility study for the power plant (unofficially). This will be the important basis for PVN and PVEP to decide on the development orientations of Bao Vang gas well, and as per committment with the Government when extending the duration of contracts for Blocks 111, 112, 113.

The two CEOs updated each other on the current business operations and future cooperation prospects for the two companies.

As part of his visit this time, Dr. Ngo Huu Hai will also attend the 50th Anniversary of establishment of Zarubezhneft in the capital of Moscow.


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