​​​​​​​Petrovietnam Implements Key Provisions of link 188bet cho dien thoai 2022 Petroleum Law

link 188bet cho dien thoai signing of link 188bet cho dien thoai PSC for Block 15-2 is particularly significant as it marks link 188bet cho dien thoai first oil and gas contract to implement key provisions of link 188bet cho dien thoai 2022 Petroleum Law. This affirms link 188bet cho dien thoai soundness of link 188bet cho dien thoai 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 188bet cho dien thoai legal framework for oil and gas activities, highlighting link 188bet cho dien thoai concerted efforts of all parties in implementing and operationalizing link 188bet cho dien thoai law. link 188bet cho dien thoai agreement ensures transparency, consistency, and feasibility in link 188bet cho dien thoai execution of new oil and gas contracts under current legal regulations.

Operations at link 188bet cho dien thoai Rang Dong Field

Based on Article 40 of link 188bet cho dien thoai 2022 Petroleum Law, in September 2023, link 188bet cho dien thoai contractor consortium JVPC and PVEP submitted a proposal to sign a new oil and gas contract for Block 15-2. link 188bet cho dien thoai contract has a 25-year term, taking effect from April 7, 2025. From link 188bet cho dien thoai time link 188bet cho dien thoai Vietnamese government approved link 188bet cho dien thoai nomination of link 188bet cho dien thoai contractor consortium to sign link 188bet cho dien thoai new contract (December 25, 2024) until link 188bet cho dien thoai issuance of link 188bet cho dien thoai 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 188bet cho dien thoai result of link 188bet cho dien thoai contractor consortium's determination, Petrovietnam's active support, and link 188bet cho dien thoai close and timely guidance of link 188bet cho dien thoai Government leaders, link 188bet cho dien thoai 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 188bet cho dien thoai determination of link 188bet cho dien thoai contractor consortium, Petrovietnam’s active support, and link 188bet cho dien thoai timely guidance of government leaders and relevant authorities. link 188bet cho dien thoai signing of this contract will ensure stable operations at link 188bet cho dien thoai Rang Dong and Phuong Dong fields while facilitating exploration activities to enhance reserves in link 188bet cho dien thoai contract area.
link 188bet cho dien thoai PSC signing is link 188bet cho dien thoai result of close, urgent, and transparent collaboration among all parties under link 188bet cho dien thoai strong direction of link 188bet cho dien thoai government and link 188bet cho dien thoai Ministry of Industry and Trade. link 188bet cho dien thoai 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 188bet cho dien thoai Block 15-2 Project, which has significantly contributed to link 188bet cho dien thoai development of Vietnam’s oil and gas industry. link 188bet cho dien thoai selection of PVEP and JVPC to continue as link 188bet cho dien thoai contractor consortium reaffirms link 188bet cho dien thoai 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 188bet cho dien thoai adoption of advanced technologies, enhanced operational capacity, and environmental protection. link 188bet cho dien thoai leadership at PVEP believes that this partnership will drive positive advancements in oil and gas production, including link 188bet cho dien thoai application of cutting-edge technologies to optimize oil recovery and implement carbon reduction solutions.

 Deputy Minister of Industry and Trade Nguyen Hoang Long: link 188bet cho dien thoai 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 188bet cho dien thoai 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 188bet cho dien thoai project over link 188bet cho dien thoai next 25 years.

 Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son congratulates Petrovietnam, link 188bet cho dien thoai contractor consortium, and partners on this significant milestone

On behalf of link 188bet cho dien thoai Prime Minister, Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son congratulated Petrovietnam, link 188bet cho dien thoai 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 188bet cho dien thoai 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 188bet cho dien thoai PSC for Block 15-2 is a crucial step forward in link 188bet cho dien thoai implementation of link 188bet cho dien thoai 2022 Petroleum Law. link 188bet cho dien thoai agreement allows for link 188bet cho dien thoai 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 188bet cho dien thoai contractor consortium and relevant parties to ensure link 188bet cho dien thoai safe and efficient operation of link 188bet cho dien thoai project.

On behalf of Petrovietnam, Chairman of link 188bet cho dien thoai Board of Directors Le Manh Hung expressed gratitude to link 188bet cho dien thoai Deputy Prime Minister, link 188bet cho dien thoai 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 188bet cho dien thoai 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 188bet cho dien thoai witness of government leaders, ministries, and industry representatives, Petrovietnam, PVEP, and their partners officially signed link 188bet cho dien thoai PSC for Block 15-2.

Block 15-2 covers an area of approximately 415.9 km² in offshore southeastern Vietnam, specifically in link 188bet cho dien thoai central and northeastern part of link 188bet cho dien thoai Cuu Long sedimentary basin. It includes link 188bet cho dien thoai Rang Dong and Phuong Dong oil and gas fields, with an average water depth of 57–60 meters. link 188bet cho dien thoai block represents link 188bet cho dien thoai remaining area of link 188bet cho dien thoai previous PSC after link 188bet cho dien thoai required relinquishments following link 188bet cho dien thoai exploration phase. This area will now be further developed under link 188bet cho dien thoai newly signed PSC.

At link 188bet cho dien thoai signing ceremony, representatives from link 188bet cho dien thoai Ministry of Industry and Trade presented link 188bet cho dien thoai Investment Registration Certificate for Block 15-2 to link 188bet cho dien thoai 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 188bet cho dien thoai oil and gas exploration arm of ENEOS Holdings (Japan)—JVPC has played a key role in Vietnam’s petroleum industry. Under link 188bet cho dien thoai new PSC, JVPC holds a 45% participating interest and will continue as link 188bet cho dien thoai 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 188bet cho dien thoai PSC for Block 15-2 is not only a major milestone for link 188bet cho dien thoai contractor consortium and stakeholders but also a testament to link 188bet cho dien thoai strong Vietnam-Japan partnership. link 188bet cho dien thoai project will continue to play a vital role in securing Vietnam’s energy supply and supporting link 188bet cho dien thoai country’s economic growth.

 Mr. Takeo Aoyama, Managing Director of JVPC 

Mr. Takeo Aoyama, Managing Director of JVPC, expressed his deep appreciation for link 188bet cho dien thoai opportunity to participate in two consecutive PSCs for Block 15-2. He acknowledged that, after 27 years of continuous operation, maintaining production in link 188bet cho dien thoai block presents new challenges. However, JVPC remains committed to upholding its pioneering spirit and maximizing efforts to ensure safe and efficient operations for link 188bet cho dien thoai benefit of all stakeholders.