Keyword: "Cuu Long Basin"

Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan described the discovery as a very positive development for Vietnam’s energy sector, adding that the ministry will work closely with relevant units to carry out further evaluation and verification.

Son noted the Block 15-2 contract is a crucial step after the 2022 Law on Oil and Gas took effect, urging contractors to carry out their commitments to maximise the productivity of the block as well as enhance oil recovery rate – an important task to ensure energy security.

The Lac Da Vang oil field of Vietnam, with a total investment of nearly 700 million USD, has received the final investment decision (FID), expected to generate considerable work for the Petrovietnam Technical Services Corporation (PTSC) and the Petrovietnam Drilling and Well Services Corporation (PV Drilling) in the coming time.

Petrovietnam Exploration Production Corporation (PVEP), a subsidiary company of the Vietnam Oil and Gas Group (Petrovietnam), has raked in revenue of more than 1.2 billion USD over the course of five years from what have been dubbed Blocks 01 and 02.

The PetroVietnam Exploration Production Corporation (PVEP) has signed a deal on the transfer of a 5-percent interest and the administration right in Block 15-1/05 to Murphy Cuu Long Bac Oil Co. Ltd.

Cuu Long Joint Operating Company (Cuu Long JOC) is focusing its resources to develop the second phase of the Su Tu Trang (White Lion oil field) so that it can be exploited in the fourth quarter of 2021.