Vietsovpetro Head Office
The Vietnam-Russia Joint Venture Vietsovpetro was established on 19/06/1981 on the basis of Intergovernmental Agreements signed between Vietnam and the Soviet Union in 1981, and between Vietnam and the Russian Federation in 2010 under the aegis of cooperation in petroleum exploration and production on the continental shelf of Vietnam.
Today, Vietsovpetro consists of 16 subsidiary divisions of which function is to collaboratively carry out the petroleum exploration and exploitation activities of the Joint Venture. Vietsovpetro is also the home of a highly qualified, experienced international working team of nearly 8000 professionals, capable of fulfilling a wide spectrum of O&G activities for Vietsovpetro as well as other O&G companies both domestically and internationally.
Throughout the 30 years of operation, Vietsovpetro has conducted more than 115,000 km of 2-D and over 100,000 km of 3-D seismic surveys; drilled over 400 exploratory wells and 400 production wells, performed workover for hundreds of production wells to improve oil recovery and increase production output. In White Tiger and Dragon oil fields, Vietsovpetro had constructed and is currently operating and managing a system of 13 fixed platforms, 19 wellhead platforms, 02 central processing platforms, 03 complete gas compressing stations, 02 water injection platforms and 03 FSOs. These facilities are inter-connected via 750 km of infield pipeline.
In addition, Vietsovpetro owns and operates 04 jack-up rigs, 03 crane barges with lifting capacities up to 1,200 MT, 01 transportation & launching barge, 15 supply vessels, a port and a system of warehouses and fabrication yards; as well as numerous valuable assets, specialized equipment to support Vietsovpetro’s operations, and to provide services to other O&G companies in the region.
Vietsovpetro has discovered 9 oil fields of commercial value and many hydrocarbon bearing formations, of which White Tiger field has the largest reserves with its oil concentrated on the granite basement. The existence of oil on the granite basement has been recognized as a unique phenomenon among the 400 wells and 50 basins under the sedimentary cover explored in the Northwest zone of the Pacific Ocean.
By June 2015, Vietsovpetro has exploited over 215 million tons of crude oil and transported to shore over 30 billion cubic meters of gas, accounting for over 66 billion USD of turnover.
With these achievements, Vietsovpetro is recognized the leading O&G company in Vietnam for its efficiency in operation. It has twice been granted the title of Labor Hero, Ho Chi Minh Medal and Sao Vang Medal by the Vietnamese government and the Vietnamese Party Committee.
Along with exploration and exploitation activities, Vietsovpetro has been able to utilize its equipment, facilities and experience to facilitate service provisions for other O&G companies both domestically and internationally. Below are the examples of services that Vietsovpetro has bid and successfully completed for O&G operators in Vietnam: