Gazprom, PetroVietnam to Drill First Well in Offshore Vietnam

Gazprom and PetroVietnam are ready to drill the first deep-water well offshore Vietnam this year. At a meeting at the Gazprom headquarters today between Alexey Miller, Chairman of the Company’s Management Committee and Nguyen Xuan Son, Chairman of the PetroVietnam National Oil and Gas Group Board of Directors the main issues of the bilateral cooperation in hydrocarbon development, particularly the joint activities in blocks Nos. 129–132 in the continental shelf of Vietnam were discussed.

The geological and geophysical data that was processed and hydrologic studies completed at the drilling sites were considered. It was pointed out that the drilling of a prospecting well in block No. 129 is scheduled to start in the second half of 2015. It would be the first deep-water well offshore Vietnam with the sea depth exceeding 1,600 meters at the drilling sites.

The participants also paid attention to the progress with the Heads of Agreement on developing the Nagumanovskoye (Orenburg Region) and Severo-Purovskoye (Yamal-Nenets Autonomous Area) fields.

In addition, the meeting touched upon the possible acquisition of a stake in Vietnam’s Dung Quat oil refinery by Gazprom and its participation in the refinery upgrade. It was noted that the Heads of Agreement on the oil refinery stake provided Gazprom with an exclusive right to negotiate the deal.