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Blocks of Vietnam's continental shelf in Gulf of Bac Bo |
Strategy
The development strategy of Gazprom as a global energy company is targeted at creating the entire gas chain from hydrocarbon production to sales in the new markets and on the basis of production capacities outside Russia.
Within this strategy the Company maintains cooperation aimed at developing hydrocarbon resources in Venezuela, Vietnam, India, Bolivia, Algeria, Libya and the Caspian Sea as well as studies the possibility of participating in oil and gas projects in Egypt and Pakistan.
Cooperation
On November 20, 2006, Gazprom and Petrovietnam entered into the Agreement of Cooperation stipulating 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 oil and gas pipelines as well as other gas and petrochemical facilities;
– Utilization of oil and gas as a vehicle fuel, development and management of gas distribution and fueling station networks;
– Processing of oil, gas and other hydrocarbons;
– Supplies of oil and gas derivatives 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 fields exploration and development.
On May 23, 2008, Gazprom and Petrovietnam inked the Agreement for Further Cooperation. The Agreement provides for geological exploration and further development of four new blocks offshore Vietnam. The project will be operated by Vietgazprom Joint Operating Company. The Agreement also contemplates setting up Gazpromviet joint venture for operations in Russia and third countries. Gazprom will be represented in the joint venture by Zarubezhneftegaz.
Block 112
Geological exploration 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, exploration, production and marketing of hydrocarbons.
In 2005 the decision was taken to extend the application of the Contract to the adjacent Block 113.
First well testing
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 also found in the well stream.
Current status
The scheduled gas dynamic study is currently underway on the inflow main characteristics. An operational appraisal of hydrocarbon reserves and proposals on further directions of in-place exploration activities are due in the near future.
News releases
27.10.2008
Gazprom and Petrovietnam sign contract for four new blocks offshore Republic of Vietnam
15.09.2008
On working meeting between Alexey Miller and Pham Gia Khiem
08.09.2008
On working meeting between Alexey Miller and Tran Ngok Canh
08.09.2008
On working meeting between Alexey Miller and Bui Dinh Dinh
19.06.2008
On working meeting of Alexey Miller with delegation from Socialist Republic of Vietnam
23.05.2008
Gazprom’s delegation visits Socialist Republic of Vietnam
23.04.2008
On working meeting between Alexey Miller and Bui Dinh Zinh
12.09.2007
On working meeting between Alexey Miller and Nguyen Tan Dung
30.08.2007
Commercial gas inflow reported in Bao Wang offshore Vietnam
20.11.2006
Gazprom and Petrovietnam enter into Agreement of Cooperation
19.09.2006
On working meeting between Alexander Medvedev and Tran Ngoc Canh