On 2nd – 3rd January 2020 in Ho Chi Minh City, Dr. Tran Hong Nam, Chairman of PVEP, led a delegation to work with the Operators of Block 16-1 (Hoang Long JOC) and Block 15-2/01 (Thang Long JOC).

The working aims was to examine the implementation of the production and business plan in 2020, as well as to review the objectives and strategic directions, ensuring the maintenance and increase of production of each JOC in particular and PVEP in general. Attending the delegation were PVEP Vice President Vu Minh Duc and GMs of the Corporation's functional divisions.

Chairman Tran Hong Nam working with Hoang Long JOC

At the meeting with Hoang Long JOC, Dr. Tran Hong Nam suggested actively studying the potential of increasing reserves, especially new discoveries to plan the implementation of appraisal activities. Dr. Nam also asked the Operator and technical teams to independently assess Hoang Long JOC's development plans on the basis of existing production results, combined with appraisal results...soon to have specific plans for each year in the next 5-year period and develop a plan to continue operating after the end of Block 16-1 petroleum contract.

PVEP Leader taking photo with Hoang Long JOC

Working with Thang Long JOC, Dr. Tran Hong Nam said that with the nature of marginal field, the goal is to ensure the safety of production activities and to find all optimal solutions to increasing the recovery coefficient, maintaining the output and successfully completing the planned targets in 2020. Therefore, PVEP functional divisions and the Operator need to calculate the feasibility of investing in producing wells and need to work with relevant parties to reach consensus. 

On behalf of PVEP, Chairman Tran Hong Nam wished the New Year 2020 to leaders and workers of the projects, and also reminded everyone to focus on ensuring the maintenance of production, enhancing security and safety during the Lunar New Year.

PVEP delegation taking photo with Murphy Oil

Also in the trip, PVEP delegation had a meeting with Mubadala Petroleum and Murphy Oil to discuss about the situation and plans to develop joint projects in Vietnam as well as sharing the cooperation opportunities in both upstream and downstream areas.

With the guidance of Vietnam Oil & Gas Group (PVN), the completing of development strategy, especially the strategy in exploration and production is being paid attention and implemented by PVEP's leaders drastically.