HÀ NỘI — The Việt Nam-Russia oil and gas joint venture Vietsovpetro has recently sent a proposal to the Việt Nam Oil and Gas Group (Petrovietnam) regarding the expansion of its operating area. Specifically, Vietsovpetro proposed Petrovietnam accelerate development plans for Blocks 09-2/09, 16-1/15, and 09-2/10, and ask the relevant authorities to approve Vietsovpetro's involvement in potential projects such as Blocks 17 and 05-2/10, while adopting Vietsovpetro's investment plans for new blocks. Vietsovpetro General Director Vũ Mai Khanh said Vietsovpetro was encountering challenges in mobilising floating systems and drilling rigs due to the scarcity and high rental costs, which were hindering its expansion plans and activities. It also aimed to expand cooperation and leverage external factors to develop and expand other services, he said. He also urged Vietsovpetro to partner with Petrovietnam Technical Services Corporation (PTSC) to develop a plan for flexible and efficient resource sharing.

Source: Viet Nam News July 19, 2023 00:11 UTC