Petrovietnam and Gazprom outline drilling plans to boost gas production off Vietnam

The Vietnam National Industry – Energy Group (Petrovietnam) has held a meeting with Russia’s energy giant Gazprom to discuss energy cooperation between the two countries, including the proposed infill drilling stage for two fields in Vietnam’s Nam Con Son Basin.

As reported by the Vietnamese firm, the two players held a working session as part of the high-level Vietnamese delegation’s visit to the Russian Federation. Petrovietnam’s Deputy Chief Executive Officer (CEO) Le Manh Cuong and Gazprom’s Deputy Chairman Vitaly A. Markelov discussed energy projects in Vietnam and Russia with other attendees.

One of the topics of conversation was the development of Hai Thach and Moc Tinh gas fields, forming part of Blocks 05-2 and 05-3 offshore Vietnam. The updated field development plan for 2025 envisages infill drilling to ensure stable gas supply, Petrovietnam reported. The partners discussed the plan before submitting it to the Vietnamese authorities for approval.

The Russian player is also engaged in blocks 129-132 and blocks 111- 113/04 offshore Vietnam through its subsidiary, Gazprom E&P International. Promoting upstream investment in these blocks was also among the topics of discussion.

Gazprom acquired a 49% interest in Hai Thach and Moc Tinh fields in 2012, with Petrovietnam’s subsidiary, Bien Dong Petroleum Operating Company (Biendong POC), holding the remaining 51% and acting as the operator. 

Since the launch of commercial gas production from the Moc Tinh and Hai Thach fields in October 2013, Biendong says the gas production reached more than 19 billion cubic meters, and condensate production 20 million barrels by January 31, 2025.

The floating storage and offloading (FSO) unit PTSC Bien Dong 01 is working at the fields. In 2023, its contract was extended by five years, allowing it to remain on site until June 3, 2028.

More recently, another basin offshore Vietnam–Cuu Long Basin–was the location of an oil discovery for Houston-based Murphy Oil. The U.S. player struck oil at the Lac Da Hong (Pink Camel) field in Block 15-1/05.

Murphy is the 40%-stake owned and operator of the field, while its partners are PetroVietnam Exploration Production (35%) and SK Earthon (25%).