On September 1st, in Ha Noi, PetroVietnam (PVN), PetroVietnam Exploration Production Corporation (PVEP), PetroVietnam Gas Joint Stock Corporation of Viet Nam (PV GAS), Mitsui Oil Exploration Company Ltd. (MOECO) and PTT Exploration and Production Public Company Limited Ltd. (PTTEP) held a Signing Ceremony for Wellhead Gas Price and Transportation Tariff for the Block B - O Mon Gas project.
In attendance and in witness of the ceremony were Alternate member of the Party Central Committee, Editor-in-chief of the Communist Gazette Mr. Doan Minh Huan; Vice Minister of Industry and Trade Mr. Cao Quoc Hung as well as representatives of the Government's Office, Ministry of Foreign Affairs, Ministry of Industry and Trade, Ministry of Finance, Ministry of Planning and Investment. 

From PVN were member in-charge of the Board of Directors, President and CEO of PVN Mr. Nguyen Vu Truong Son, members of the Board of Directors, Vice President of PVN, representatives of PVN's departments, leaders of PVEP, PV GAS, Phu Quoc Production Operating Company, Tay Nam Gas Pipeline Company.
PVEP saw the attendance of Chairman of the Board of Directors Mr. Nguyen Van Que, Vice President Mr. Pham Nhu Khanh, Vice President Mr. Nguyen Tien Long, Vice President Mr. Truong Hong Son.
From foreign partners, in attendance were leaders of MOECO Vietnam Co., Ltd, MOECO Southwest Vietnam Co., Ltd (Japan), PTTEP Kim Long Vietnam Co., Ltd, PTTEP Southwest Vietnam Co.,Ltd (Thailand), Mitsui Oil Exploration Co., Ltd (Japan), PTTEP Southwest Vietnam Pipeline Co.,Ltd (Thailand).

Vice Minister of Industry and Trade Mr. Cao Quoc Hung speaking at the ceremony.

Production Sharing Contract (PSC) for Block B & 48/95 were signed on 28/5/1996 and Block 52/97 on 19/10/1999. The Hydrocarbons Initially In Place (HCIIP) reports for Kim Long, Ac Quy and Ca Voi features have been completed by contractors and approved by the Prime Minister. 
In February 2015, with approval from the Prime Minister, PVN was successful in the reacquisition of Chevron's assets for these contract blocks as well as the pipeline project to officially become the Operator for the upstream and pipeline projects. 

Member in-charge of the Board of Directors, President & CEO of PVN Mr. Nguyen Vu Truong Son reporting on the progress of the Block B - O Mon Gas project

The Block B - O Mon Gas project is one of two largest gas projects in Viet Nam today. Total investment for the upstream and pipeline projects were roughly 10 billion USD, and will contribute to the state budget roughly 18 billion USD.
During normal operations, the project's total gas production capacity is roughly 5 billion cubic meters, an important source of hydrocarbon consumed by the O Mon Electricity Center and the Ca Mau Gas - Electricity - Fertilizer Center. The development of the Block B - O Mon Gas project will provide an additional source of gas to stabilize and further develop the Southwestern region of Viet Nam, helping to ensure national energy security, allowing for development of local industries, greater growth of the local economy and employment for the region. 

Signing of the Wellhead Gas price for Block B & 48/95 and Block 52/97 projects. 

Following negotiations, PVN, PVEP, PV GAS and foreign partners including MOECO (Japan) and PTTEP (Thailand) have agreed to sign the Wellhead Gas Price and Transportation Tariff as the basis for the parties to soon agree on the necessary commercial contracts required for the series of project. The signing of this agreement is significant in that it will help contractors make the final investment decision and put the series of projects into operation with the aim of first gas by end of 2021. 

Signing of the Transportation tariff agreement for Block B & 48/95 and Block 52/97 projects

Speaking at the Ceremony, Vice Minister of Industry and Trade Mr. Cao Quoc Hung commended and expressed appreciation for the efforts by PVN and partners, including PVEP, MOECO and PTTEP in recording recent positive achievements, particularly agreeing on the wellhead and transportation price. 

From the Government, to ensure comprehensive development of the Block B - O Mon Gas project series, Ministries and agencies will soon finalize negotiation on Government guarantee for the series of projects as well as provide guidance for Electricity of Viet Nam (EVN) and PVN soon reach a Gas Sales Agreement (GSA); the Government and Ministries will provide close guidance to ensure that plants using Block B gas (EVN as main investor) will be built on time, commensurate to Block B's progress. 
To record further successes in the future, Vice Minister Mr. Cao Quoc Hung suggested that PVN, as the Operator of wells and pipelines development projects, to work closely with investment partners to strive to ensure that first gas will be a reality by end of 2021, ensuring the success of the up-and-downstream segments of the series of Block B - O Mon Gas projects.