Viet Nam News

  In Viet Nam News 

First gas pumped out of Sư Tử Trắng oil field in phase 2A

The Oil and Gas Group (PetroVietnam) on Friday welcomed the first flow of gas from Sư Tử Trắng (White Lion) oil field in phase 2A.

Amid the complicated developments of the COVID-19 pandemic, a ceremony to mark the occasion was held online, marking the operation of the project 16 days ahead of schedule.

Addressing the event, PetroVietnam’s General Director Lê Mạnh Hùng said Block 15-1 was the flagship in oil and gas exploitation activities in Việt Nam, bringing benefits to all involved parties, and contributing about US$10.4 billion to the State budget.

PetroVietnam highly valued the efforts of Cửu Long Joint Operating Company and its partners to complete the drilling of the well on schedule, ensuring their commitments in the gas purchase and sale contract and field development plan, he said.

Cửu Long JOC’s General Director Nguyễn Văn Quế attributed the success of the project to the efforts of the company and its partners, along with the maximum support from PetroVietnam, PetroVietnam Exploration Production Corporation (PVEP) and relevant ministries.

On behalf of foreign partners, President of Perenco Vietnam Gilles d’Argouges said this was an important achievement and a symbol of the successful co-operation between Vietnamese businesses and foreign partners.

The oil and gas exploration contract of Block 15-1 was signed on September 16, 1998, between PetroVietnam and the contracting parties, including PVEP,  Perenco, KNOC, SK and Geopetrol. The project is operated by Cửu Long JOC.

The White Lion field is located in Block 15-1 of the Cửu Long Basin off the southern coast of Việt Nam. It is considered as one of the areas with the highest potential for oil and gas reserves in the continental shelf of Việt Nam.

The plan to develop the White Lion oil field in phase 2A was approved by then-Prime Minister Nguyễn Xuân Phúc on December 6, 2019, with a total expected consolidated capital expenditure investment of nearly $138 million. VNS