PV Gas, Zarubezhneft, PVEP shake hands to tap Thien Nga-Hai Au gas field
Petrovietnam Gas (PV Gas), Petrovietnam Exploration Production Corporation (PVEP) and their Russian partner - the state-owned Zarubezhneft have agreed to continue their partnership to jointly exploit the Thien Nga-Hai Au gas field off Vietnam’s southeastern region.
CEO of PV Gas Pham Van Phong chairs the meeting (Photo: pvn.vn)
Hanoi (VNA)🏅 - Petrovietnam Gas (PV Gas), Petrovietnam Exploration Production Corporation (PVEP) and their Russian partner - the state-owned Zarubezhneft have agreed to continue their partnership to jointly exploit the Thien Nga-Hai Au gas field off Vietnam’s southeastern region.
The agreement was reached at a meeting at PV Gas’s headquarters in Ho Chi Minh City on May 20 among President and CEO of PV Gas Pham Van Phong, CEO of Zarubezhneft EP Vietnam Alexander I. Mikhaylov, and CEO of PVEP Tran Hong Nam.
Representatives of Zarubezhneft and PVEP at the meeting (Photo:pvn.vn)
At the meeting, representatives from Zarubezhneft EP Vietnam briefed the partners about the Thien Nga-Hai Au gas field in Block 12.11, located in the western part of the Nam Con Son basin.
According to the reserve assessment report approved by the Prime Minister in Decision No. 467/QD-TTg dated April 14, 2022, about 7.43 billion cubic meters of gas will be tapped from the Thien Nga-Hai Au field and provided for the southeast region in the 2026-2037 period. The first gas flow is expected in Q4/2026.
For its part, PVEP, a subsidiary of state-run Petrovietnam, also informed the parties about cooperation in exploiting the gas field and bringing gas onshore using the existing the Nam Con Son 1 gas pipeline infrastructure, through the Rong Doi platform in Block 11.2.
This cooperation will lay ground for the development of the Rong Doi Moi field and undiscovered reserves in Block 11.2, PV Gas said in a statement on its website.
CEO of PV Gas Pham Van Phong asked PVEP and Zarubezhneft to continue updating the firm on the progress of the Thien Nga-Hai Au field, and coordinate efforts to explore and implement new gas projects and provide gas for the southeastern region.
The PetroVietnam Exploration Production Corporation (PVEP) is the upstream arm of Vietnam Oil & Gas Group (PetroVietnam), conducting the core business of exploration and production. Over decades of building and development, PVEP has grown tremendously and contributed remarkably to the national economy. It is now one of the biggest companies in Vietnam and ranks among the top oil companies in the region.
Meanwhile, PV Gas is a leading gas enterprise in Vietnam. It is currently Vietnam’s biggest dry gas and LPG supplier, contributing to ensuring national energy and food security. Currently, each year the corporation provides a stable source of raw materials and fuel to produce nearly 11% of electricity output, and 70% of nitrogen demand and fuel for many industrial parks. It also occupies 100% of the dry gas market share, and about 70% of the wholesale market share and nearly 11% of the retail market share of LPG.
Zarubezhneft has been present in Vietnam for nearly 40 years with engagement in the Bach Ho (White Tiger), Rong (Dragon), and Thien Ung (Eagle) fields, among others. It holds a 49% stake in Vietsovpetro, a joint venture with Petrovietnam.
Zarubezhneft and PV Gas have been partnering to deploy gas projects in Vietnam. On March 15, 2024, they signed a memorandum of understanding on the purchase and sale of gas from the Thien Nga-Hai Au field, 320km southeast of the southern province of Ba Ria-Vung Tau./.
Petrovietnam Gas Joint Stock Corporation (PV GAS) has risen to become a leading gas enterprise in Vietnam 33 years after its formation and development.
PV GAS Corporation and its subsidiary PV GAS LPG JSC have signed a cooperation agreement with Japan Cooperation Centre Petroleum (JCCP) on improving the management capacity of LPG cylinders distribution by barcode in Vietnam.
PetroVietnam Gas Corporation JSC (PV Gas) earned approximately 6 trillion VND (252.1 million USD) in after-tax profit, up 83% from the set target but down 27.7% from the same period last year.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
