SOCHI, Russia – Heads of Gazprom and PetroVietnam have signed a memorandum of cooperation concerning a gas field development offshore central Vietnam.
They plan to supply gas from the Bao Vang field, discovered byVietgazprom - a joint venture between the two companies - to a power plant that will be built in the Quang Tri province.
Currently a program is under way to establish the Dong Nam Economic Zone in the province with industrial, logistics, and port infrastructure.
The two companies also plan further exploration of the Bao Vang field, to prove the viability of a development.
Vietnam’s Ministry of Industry and Trade is reviewing plans for the power plant.
Vietgazprom is exploring offshore blocks 111/04, 112, 113 and 129–132. During 2007–2016, the venture discovered the Bao Vang and Bao Den gas/condensate fields and the deepwater Than Bien petroleum gas field.
Since 2013, Gazprom EP International and PetroVietnam have been partners in gas/condensate production from the offshore Moc Tinh and Hai Thach fields.