link sbobet signing of link sbobet PSC for Block 15-2 is particularly significant as it marks link sbobet first oil and gas contract to implement key provisions of link sbobet 2022 Petroleum Law. This affirms link sbobet soundness of link sbobet investment promotion policy in Vietnam’s oil and gas sector, fostering a favorable investment environment and building investor confidence. Additionally, it represents a major milestone in link sbobet legal framework for oil and gas activities, highlighting link sbobet concerted efforts of all parties in implementing and operationalizing link sbobet law. link sbobet agreement ensures transparency, consistency, and feasibility in link sbobet execution of new oil and gas contracts under current legal regulations.
Operations at link sbobet Rang Dong Field
Based on Article 40 of link sbobet 2022 Petroleum Law, in September 2023, link sbobet contractor consortium JVPC and PVEP submitted a proposal to sign a new oil and gas contract for Block 15-2. link sbobet contract has a 25-year term, taking effect from April 7, 2025. From link sbobet time link sbobet Vietnamese government approved link sbobet nomination of link sbobet contractor consortium to sign link sbobet new contract (December 25, 2024) until link sbobet issuance of link sbobet investment registration certificate on March 31, 2025, only 96 days had passed—an exceptionally efficient process.
Petrovietnam CEO Le Ngoc Son affirms that this is link sbobet result of link sbobet contractor consortium's determination, Petrovietnam's active support, and link sbobet close and timely guidance of link sbobet Government leaders, link sbobet Ministry of Industry and Trade, and relevant ministries and agencies.
Petrovietnam CEO Le Ngoc Son emphasized that this record time was achieved thanks to link sbobet determination of link sbobet contractor consortium, Petrovietnam’s active support, and link sbobet timely guidance of government leaders and relevant authorities. link sbobet signing of this contract will ensure stable operations at link sbobet Rang Dong and Phuong Dong fields while facilitating exploration activities to enhance reserves in link sbobet contract area.
link sbobet PSC signing is link sbobet result of close, urgent, and transparent collaboration among all parties under link sbobet strong direction of link sbobet government and link sbobet Ministry of Industry and Trade. link sbobet contract guarantees continuity in oil and gas activities within Block 15-2, contributing to state revenue, energy security, and sustainable development.
PVEP General Director Nguyen Thien Bao believes that this cooperation will bring positive changes.
PVEP General Director Nguyen Thien Bao noted that for over 30 years, PVEP and JVPC have successfully implemented link sbobet Block 15-2 Project, which has significantly contributed to link sbobet development of Vietnam’s oil and gas industry. link sbobet selection of PVEP and JVPC to continue as link sbobet contractor consortium reaffirms link sbobet Vietnamese government's trust in their proven expertise and successful track record.
As a key player in Petrovietnam’s oil and gas sector, PVEP remains committed to a sustainable development strategy that prioritizes not only production growth but also link sbobet adoption of advanced technologies, enhanced operational capacity, and environmental protection. link sbobet leadership at PVEP believes that this partnership will drive positive advancements in oil and gas production, including link sbobet application of cutting-edge technologies to optimize oil recovery and implement carbon reduction solutions.
Deputy Minister of Industry and Trade Nguyen Hoang Long: link sbobet Vietnamese Ministry of Industry and Trade will continue to create favorable conditions, support, and encourage oil and gas activities.
Deputy Minister of Industry and Trade Nguyen Hoang Long affirmed that link sbobet ministry will continue to create favorable conditions, provide support, and encourage oil and gas activities. He urged all participating companies to fulfill their commitments and successfully execute link sbobet project over link sbobet next 25 years.
Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son congratulates Petrovietnam, link sbobet contractor consortium, and partners on this significant milestone
On behalf of link sbobet Prime Minister, Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son congratulated Petrovietnam, link sbobet contractor consortium, and all partners on this milestone achievement. He emphasized that foreign investment plays a crucial role in Vietnam’s oil and gas industry—a key economic sector that actively contributes to link sbobet country’s industrialization and modernization. Furthermore, this collaboration strengthens Vietnam-Japan relations, reinforcing mutual economic and technological cooperation.
Deputy Prime Minister Bui Thanh Son also highlighted that link sbobet PSC for Block 15-2 is a crucial step forward in link sbobet implementation of link sbobet 2022 Petroleum Law. link sbobet agreement allows for link sbobet maximization of resource recovery, improvement in oil extraction efficiency, and enhanced energy security, all of which contribute to Vietnam’s sustainable economic growth. He encouraged Petrovietnam and its partners to continue researching and proposing investment-friendly policies while swiftly addressing challenges to ensure a fair and beneficial partnership for all stakeholders.
Chairman of Petrovietnam’s Board of Members Le Manh Hung commits to coordinating with link sbobet contractor consortium and relevant parties to ensure link sbobet safe and efficient operation of link sbobet project.
On behalf of Petrovietnam, Chairman of link sbobet Board of Directors Le Manh Hung expressed gratitude to link sbobet Deputy Prime Minister, link sbobet Ministry of Industry and Trade, and other government agencies for their unwavering support and guidance. Going forward, Petrovietnam is committed to working closely with link sbobet contractor consortium and relevant stakeholders to ensure safe and efficient project operations. This includes applying advanced oil recovery technologies, increasing production efficiency, and making strategic investments to sustain and enhance output. These efforts will not only contribute to Vietnam’s energy security but also boost state revenue and drive national economic growth beyond 2025.
Under link sbobet witness of government leaders, ministries, and industry representatives, Petrovietnam, PVEP, and their partners officially signed link sbobet PSC for Block 15-2.
Block 15-2 covers an area of approximately 415.9 km² in offshore southeastern Vietnam, specifically in link sbobet central and northeastern part of link sbobet Cuu Long sedimentary basin. It includes link sbobet Rang Dong and Phuong Dong oil and gas fields, with an average water depth of 57–60 meters. link sbobet block represents link sbobet remaining area of link sbobet previous PSC after link sbobet required relinquishments following link sbobet exploration phase. This area will now be further developed under link sbobet newly signed PSC.
At link sbobet signing ceremony, representatives from link sbobet Ministry of Industry and Trade presented link sbobet Investment Registration Certificate for Block 15-2 to link sbobet PVEP-JVPC contractor consortium.
Japan Vietnam Petroleum Company Limited (JVPC) has continuously operated in Vietnam since 1992. As a wholly owned subsidiary of ENEOS Xplora—link sbobet oil and gas exploration arm of ENEOS Holdings (Japan)—JVPC has played a key role in Vietnam’s petroleum industry. Under link sbobet new PSC, JVPC holds a 45% participating interest and will continue as link sbobet Operator of Block 15-2.
Ambassador Ito Naoki – Ambassador Extraordinary and Plenipotentiary of Japan to Vietnam
Ambassador Ito Naoki, Japan’s Ambassador to Vietnam, emphasized that link sbobet PSC for Block 15-2 is not only a major milestone for link sbobet contractor consortium and stakeholders but also a testament to link sbobet strong Vietnam-Japan partnership. link sbobet project will continue to play a vital role in securing Vietnam’s energy supply and supporting link sbobet country’s economic growth.
Mr. Takeo Aoyama, Managing Director of JVPC
Mr. Takeo Aoyama, Managing Director of JVPC, expressed his deep appreciation for link sbobet opportunity to participate in two consecutive PSCs for Block 15-2. He acknowledged that, after 27 years of continuous operation, maintaining production in link sbobet block presents new challenges. However, JVPC remains committed to upholding its pioneering spirit and maximizing efforts to ensure safe and efficient operations for link sbobet benefit of all stakeholders.
Vietnam National Energy and Industrial Group (Petrovietnam), established in 1975, is Vietnam’s leading oil and gas corporation, playing a crucial role in ensuring national energy security and contributing significantly to economic growth. Over link sbobet past 50 years, link sbobet company has evolved into a fully integrated energy group, spanning exploration, production, refining, petrochemicals, power generation, renewable energy, and high-tech oil and gas services.
ENEOS Xplora, a subsidiary of ENEOS Holdings, is Japan’s largest multi-energy conglomerate, holding a 50% market share in domestic petroleum products. link sbobet company is a pioneer in carbon capture and storage/utilization (CCS/CCUS) technology, with major projects in link sbobet U.S., Malaysia, and Vietnam.
PVEP, a wholly owned subsidiary of Petrovietnam, has extensive experience managing 29 domestic and 5 international oil and gas projects. As a key player in Petrovietnam’s exploration and production strategy, PVEP continues to drive innovation and sustainability in Vietnam’s energy sector.