JOGMEC, Petrovietnam extend cooperation in Vietnam
- Business & Finance
Japan Oil, Gas, and Metals National Corporation (JOGMEC) and Petrovietnam have renewed the memorandum of understanding (MOU) regarding comprehensive cooperation in Vietnam.
JOGMEC and Petrovietnam have established and maintained their relationship since November 2007 through collaborative activities in E&P business and R&D projects.
The Japanese company said on Tuesday that both parties agreed to extend the MOU for another five years in order to further promote and develop the collaborative activities in Vietnam.
During the past ten years of cooperation, the two companies researched CO2 enhanced oil recovery (EOR) including CO2 EOR pilot test at Rang Dong oil field in Block 15-2 offshore Vietnam, geo-mechanical studies for wellbore stability analysis and sand production, and made a feasibility study on the applicability of gas to liquid (GTL) technology in Japan.
According to JOGMEC, the tandem also researched low salinity water flooding EOR.
“Aiming to secure stable supplies of natural resources and energy for Japan, JOGMEC continues to successively accumulate technical abilities in oil development and promotes joint study opportunities with oil-producing countries, in order to both transfer knowledge and maintain a positive international working relationship,” the company said.
JOGMEC added that Vietnam was one of the most important countries for Japan and three Japanese private companies were actively implementing E&P activities with support from Petrovietnam.