First gas pumped out of Su Tu Trang oil field in phase 2A
First gas pumped out of Su Tu Trang oil field in phase 2A
The Oil and Gas Group (PetroVietnam) on Friday welcomed the first flow of gas from Su Tu Trang (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 Le Manh Hung said Block 15-1 was the flagship in oil and gas exploitation activities in Viet Nam, bringing benefits to all involved parties, and contributing about US$10.4 billion to the State budget.
PetroVietnam highly valued the efforts of Cuu 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.
Cuu Long JOC's General Director Nguyen Van Que 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 Cuu Long JOC.
The White Lion field is located in Block 15-1 of the Cuu Long Basin off the southern coast of Viet Nam. It is considered as one of the areas with the highest potential for oil and gas reserves in the continental shelf of Viet Nam.
The plan to develop the White Lion oil field in phase 2A was approved by then-Prime Minister Nguyen Xuan Phuc on December 6, 2019, with a total expected consolidated capital expenditure investment of nearly $138 million.
