en.Wedoany.com Reported - On June 19, Vietnam National Oil and Gas Group (Petrovietnam) signed the Production Sharing Contracts for Blocks 10/11 and 10&11-1, as well as the Gas Sales and Purchase Agreement for Phase 2B of the White Lion Gas Field in Block 15-1. The signing of these contracts marks significant progress in Vietnam's oil and gas exploration, development, and production, contributing to national energy security, improving resource utilization efficiency, and creating new growth momentum for Vietnam's energy industry.
The aforementioned oil and gas blocks are located in the Nam Con Son Basin and the Cuu Long Basin off the coast of Vietnam. After years of research, development plan optimization, and full utilization of existing infrastructure, obstacles related to geological conditions, investment scale, and economic efficiency have been gradually resolved, creating conditions for the commercial development of discovered oil and gas resources.
The Phase 2B project of the White Lion Gas Field is expected to supply an additional approximately 1.2 billion cubic meters of natural gas annually to the Southern East region of Vietnam, providing fuel security for key gas-fired power centers such as Phu My and Nhon Trach, while enhancing the operational efficiency of the national oil-gas-power industry chain. Petrovietnam stated that over the past year, the Group has successfully signed five new oil and gas contracts to expand resource reserves, increase oil and gas production, and implement the "Vietnam National Energy Development Strategy (2030 Target, 2045 Vision)." At the signing ceremony, Vietnam's Minister of Industry and Trade, Le Manh Hung, noted that the newly signed agreements will supplement important natural gas resources for the Southern East region and recommended that Petrovietnam and relevant partners accelerate project implementation, ensuring safe, efficient progress and strict compliance with laws and regulations.
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