Gazprom, PetroVietnam to Drill First Deep-Water Well Offshore Vietnam

May 6, 2015 – Gazprom held a meeting between Alexey Miller, Chairman of the Company’s Management Committee and Nguyen Xuan Son, Chairman of the PetroVietnam National Oil and Gas Group Board of Directors.

The meeting addressed the main issues of the bilateral cooperation in hydrocarbon development, particularly the joint activities in blocks Nos. 129–132 in the continental shelf of Vietnam. The geological and geophysical data was processed and hydrologic studies were completed at the drilling sites. The drilling of a prospecting well in block No. 129 is scheduled to start in the second half of 2015. It would be the first deep-water well offshore Vietnam with the sea depth exceeding 1,600 meters at the drilling sites.

The participants also paid attention to the progress with the Heads of Agreement on developing the Nagumanovskoye (Orenburg Region) and Severo-Purovskoye (Yamal-Nenets Autonomous Area) fields.

The meeting also highlighted the possible acquisition of a stake in Vietnam’s Dung Quat oil refinery by Gazprom and its participation in the refinery upgrade. It was noted that the Heads of Agreement on the oil refinery stake provided Gazprom with an exclusive right to negotiate the deal.

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