Welcoming the first commercial oil flow from Dai Hung field phase 3

Leaders of the Government, Petrovietnam , PVEP, PVEP POC performed the ceremony to welcome the first commercial oil flow from the Dai Hung field development project phase 3.

This is an important milestone, marking the remarkable growth of the national oil and gas industry, especially the ability to master offshore projects with high technical complexity.

Speaking at the ceremony, Deputy Prime Minister Bui Thanh Son emphasized: The success of the Dai Hung Mine Development Project Phase 3 in particular and the entire Dai Hung Mine Project in general is very important, affirming the spirit of self-reliance, confidence and self-reliance of the Vietnamese people and of Petrovietnam, contributing to bringing the country into a new era of development.

Transferred from a foreign contractor in 2003 with a book value of only 1 USD, Dai Hung mine was considered economically inefficient at that time. However, with a strategic vision, Petrovietnam and its operator PVEP-POC have gradually turned this mine into one of the sustainable oil and gas supply sources. By the end of 2024, total revenue from the mine had reached over 4 billion USD, contributing more than 600 million USD to the budget, with an average production output of 2.6-2.8 million barrels/year.

Deputy Prime Minister Bui Thanh Son spoke at the ceremony.

Phase 3 of the project will be implemented from the end of 2022, with 100% Vietnamese engineers and experts undertaking all stages from design, construction to operation. The project includes the WHP-DH01 wellhead platform located at a depth of more than 110m, connected to the FPU central processing platform via a 5.2km long flexible pipeline. The first commercial oil flow will be exploited on May 7, 2025, 20 days ahead of schedule, with a flow rate of 6,000 barrels/day.

The project not only brings financial efficiency, with total mine revenue expected to reach about VND160,000 billion by 2034, but also creates a foundation for Petrovietnam to expand exploration activities in Block 05-1(a) and neighboring areas. This further affirms Petrovietnam's pioneering role in developing the energy industry associated with protecting national sovereignty at sea.

The Deputy Prime Minister requested Petrovietnam and its partners and contractors to continue to promote the spirit of creativity, proactive adaptation, promote scientific research, and apply modern technology to expand the scale of development and connect neighboring mines, in order to maximize the value of the supply chain in the field of oil and gas exploration and exploitation. At the same time, continue to strive to become a leading energy corporation with a strong brand in the region and the world.

Dai Hung Mine Exploitation Platform.

Chairman of Petrovietnam Board of Directors, Mr. Le Manh Hung, affirmed that the entire system will synchronously implement assigned tasks; promote technology application, optimize supply chains and enhance autonomy in large oil and gas projects.

With the cooperation of key units such as PVEP, PVEP-POC, PTSC, PV Drilling, Vietsovpetro, the success of the Dai Hung Mine Project Phase 3 is a clear demonstration of the strength of intra-bloc linkages, management and operation capacity of Vietnamese people in the key industry. This is also a step forward affirming that Vietnamese people are completely capable of mastering projects that used to depend on foreign countries, thereby creating a premise to reach international level.

On this occasion, the Government leaders and Petrovietnam leaders presented gifts, certificates of merit and honored the collective leadership of PVEP and PVEP-POC to encourage and motivate their positive contributions to the success of the project.

News and photos: HA AN

Source: https://baobariavungtau.com.vn/kinh-te/202505/don-dong-dau-thuong-mai-dau-tien-tu-mo-dai-hung-giai-doan-3-1042794/