Photo for illustrationIn his opening speech, BSR General Director Tran Ngoc Nguyen said the Dung Quat Oil Refinery Plant has been operating continuously, safely and stably at a maximum capacity. Production output in the first 8 months of the year reached an estimated 4.71 million tons, earning revenue of more than VND73.9 trillion and paying VND7.47 trillion to the State budget. He stressed that BSR’s staff continued to follow the generation of fire seekers who search for oil from deep wells 30 years ago to develop the oil and gas processing field more professionally. Mr. Ngo Thuong San, Chairman of the Vietnam Petroleum Association and former General Director of the Vietnam National Oil and Gas Corporation, reviewed the history of seeking oil in Vietnam. 30 years ago, on September 9th, 1988, Vietsovpetro Joint Venture exploited the first tone of commercial oil from Bach Ho field with a very large area of nearly 60 square kilometers. The discovery set a precedent in world oil … [Read more...] about BSR reviews oil exploitation history
Oil exploitation
Crude oil exploitation output up 11.6pct y/y at 1.41m tonnes in Janpan
As per the latestreportfrom Vietnamese Ministry of Industry and Trade (MoIT), in the first month this year, the local petroleum sector ensured stable production andinvestmentprogress for projects and sufficient and timely supply of key products such asoil and gas, liquefied petroleum gas (LPG) to the local market during Lunar New Year (Tet) and crude oil supply for exports. The total oil exploitation output wasestimatedat 2.12 million tonnes, of which, crude oil exploitation output wasestimatedat 1.41 million tonnes, up 11.6 percent on year (thanks to increase inoverseasmining activities), LPG output wasestimatedat 65.200 tonnes, up 26.3 percent on year, and fuel of all types at 567,200 tonnes, up 11.2 percent on year and gas exploitation wasestimatedat 0.71 billion cubic metres, down 10.2 percent on year. If considering theworkingduration in January 2012 (the month of Lunar New Year-Tet) against February 2011, the crude oil exploitation output increased 23.7 percent on year, LPG … [Read more...] about Crude oil exploitation output up 11.6pct y/y at 1.41m tonnes in Janpan
Norwegian group helps train oil and gas personnel
Norwegian group Roxar and the Hanoi Mining and Geology College has signed an agreement on oil exploitation technology transfer and human resources training for the local oil and gas industry. As a Norwegian leading company in providing software and measurement systems for oil and gas industry, it will transfer RMS and Tempest software to the college and train Vietnam’s internship students and graduates with good academic results. Addressing the signing ceremony, Norwegian Commercial Counsellor to Vietnam Harald Naevdal expressed his hope that Roxar’s cooperation with the Hanoi Mining and Geology College will benefit both sides. Roxar also plans to cooperate with the Oil and Gas Department of the Ho Chi Minh City University of Technologies. … [Read more...] about Norwegian group helps train oil and gas personnel
Vietnam to create favorable conditions for Russia to expand oil and gas exploration
Recently, at the meeting with President Vladimir Putin in Sochi city, Russia, Prime Minister Nguyen Tan Dung announced the situation in East Sea and confirmed that Vietnam would create all the favorable conditions for Russian Oil & Gas companies to expand operations in the continental shelf and offshore, in compliance with international law and the United Nations' Convention on Law of Sea 1982. President V. Putin considered peace and stability in the East Sea as important. He also expected the concerned parties to resolve disputes in East Sea on the basis of international law. Prime Minister Nguyen Tan Dung and President V. Putin confirmed that cooperation in the energy sector is one of the priority directions between the two countries. Russia would actively continue to participate in oil exploitation in the continental shelf of Vietnam as well as encourage the joint ventures of the two countries to expand cooperation in Russia. Right after the meeting, Prime Minister Nguyen Tan … [Read more...] about Vietnam to create favorable conditions for Russia to expand oil and gas exploration
Tonkin Gulf oil deal with China approved
The Prime Minister has approved an agreement on joint oil exploration offshore the Bac Bo (Tonkin) Gulf, which was signed last year by the Vietnam Petroleum Corporation (PetroVietnam) and the China National Offshore Oil Corporation. The deal, reached by the two companies on November 16, 2006, made it clear that the joint operation will be conducted in the bilaterally-accepted water territory in the TonkinGulf. The Prime Minister has entrusted PetroVietnam to co-operate with relevant ministries and industries in implementing the deal to make sure that the joint oil exploitation will abide by the law and serve economic benefits of Vietnam. … [Read more...] about Tonkin Gulf oil deal with China approved