The Vietnam National Industry – Energy Group (Petrovietnam) Collaborates with Russia’s Gazprom for Energy Projects

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

During the meeting, Petrovietnam’s Deputy Chief Executive Officer, Le Manh Cuong, and Gazprom’s Deputy Chairman, Vitaly A. Markelov, along with other attendees, explored energy projects in Vietnam and Russia. One of the key topics of conversation was the development of Hai Thach and Moc Tinh gas fields, part of Blocks 05-2 and 05-3 offshore Vietnam. The updated field development plan for 2025 includes infill drilling to ensure a stable gas supply.

Gazprom, through its subsidiary Gazprom E&P International, is also involved in blocks 129-132 and blocks 111-113/04 offshore Vietnam. The partners discussed promoting upstream investment in these blocks during the meeting.

In 2012, Gazprom acquired a 49% interest in the Hai Thach and Moc Tinh fields, with Petrovietnam’s subsidiary, Biendong POC, holding the remaining 51% and acting as the operator. Since the commencement of commercial gas production from the fields in October 2013, gas production has exceeded 19 billion cubic meters, and condensate production has reached 20 million barrels as of January 31, 2025.

The floating storage and offloading (FSO) unit PTSC Bien Dong 01 is currently operational at the fields, with its contract recently extended until June 3, 2028. Meanwhile, Murphy Oil, a U.S.-based company, made an oil discovery in the Cuu Long Basin offshore Vietnam at the Lac Da Hong (Pink Camel) field in Block 15-1/05.

Murphy Oil holds a 40% stake and operates the field, with partners PetroVietnam Exploration Production (35%) and SK Earthon (25%).