Marine Link
Monday, October 24, 2016

Gazprom Expands in Vietnam After Gaining Two Offshore Blocks

April 5, 2012

AO Gazprom, the world’s largest natural gas producer, plans to develop two blocks with Vietnam Oil & Gas Group off the coast of the Asian nation, Bloomberg reported.

Gazprom will take 49 percent of the project with PetroVietnam, as the state-owned company is known, to develop the 05.2 and 05.3 blocks, the Russian gas producer said today. The partners will work under a production-sharing agreement, Gazprom said.
PetroVietnam and Gazprom are already working together exploring for oil and gas offshore Vietnam, the country which has been Russia’s ally since the Soviet era.

The two blocks in the South China Sea cover two discovered gas and condensate fields, Moc Tinh and Hai Thach, with total reserves of 55.6 billion cubic meters of gas and 25.1 million tons of condensate, Gazprom said. There is also an oil field at one of the blocks (Bloomberg).

Maritime Reporter Magazine Cover Oct 2016 - Marine Design Annual

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News