The oil and gas industry must exploit and use national resources effectively.

(Chinhphu.vn) - Deputy Prime Minister Bui Thanh Son requested the oil and gas industry to continue to promote the highest responsibility in exploiting and effectively using the country's precious resources.

Deputy Prime Minister Bui Thanh Son witnessed the signing of the Product Sharing Contract (PSC) for Block 15-1 in the southern continental shelf of Vietnam - Photo: VGP/Hai Minh

On June 20 in Hanoi , the Vietnam National Oil and Gas Group (PVN) and its joint venture partners officially signed the Product Sharing Contract (PSC) for Block 15-1 in the southern continental shelf of Vietnam.

Attending the ceremony were Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son, Minister of Industry and Trade Nguyen Hong Dien, and Korean Ambassador to Vietnam Choi Youngsam.

Block 15-1 is one of the oil and gas blocks of special strategic significance for the exploration and exploitation activities of PVN and the Oil and Gas Exploration and Production Corporation (PVEP).

Since its discovery and development, Block 15-1 has continuously contributed large production output, high economic efficiency and played a role as one of the pillars of national oil and gas production over the past many years.

With a series of mines discovered and continuously put into exploitation, Cuu Long Petroleum Operating Company (CLJOC) - the unit exploiting and developing projects at Block 15-1 has become the 2nd largest oil exploiter in Vietnam.

Block 15-1 project has achieved important production milestones such as: 100 million barrels of oil in December 2007, 200 million barrels in March 2011, 300 million barrels in June 2016, 350 million barrels in 2019 and set a new milestone of success with oil exploitation reaching 400 million barrels on November 11, 2022.

Over the past 27 years of operation, Block 15-1 has exploited about 430 million barrels of oil, achieved total revenue of over 31 billion USD and paid nearly 15 billion USD to the state budget - extremely impressive numbers, not only demonstrating the economic efficiency of the industry, but also making an important contribution to the socio-economic development of the country in recent years.

The newly signed contract will facilitate the continued effective exploitation of operating fields, while opening up opportunities to discover and develop new potential structures in the region, contributing to ensuring national energy security, while maintaining Vietnam's strong presence in sovereign waters.

The Deputy Prime Minister requested the oil and gas industry and PVN to continue to promote the highest responsibility in exploiting and effectively using the country's precious resources - Photo: VGP/Hai Minh

Currently, PVEP - PVN's main unit in the field of exploration and exploitation - continues to assume the role of operator at many key oil and gas fields, of which Block 15-1 is a typical example of field management capacity and operational efficiency.

With the experience accumulated from the exploitation process at Bach Ho, Rong, Su Tu Den, Su Tu Vang fields... the continued investment in Lot 15-1 promises to create great added value for the Vietnamese oil and gas industry in the coming period.

Speaking at the ceremony, Deputy Prime Minister Bui Thanh Son commended and congratulated the leaders and employees of PVN, PVEP, and Cuu Long JOC on the great achievements they have made in recent years.

The Deputy Prime Minister emphasized that today's event is a very important milestone in the development process of Vietnam's oil and gas industry; a clear demonstration of the close and effective cooperation between PVN and PVEP with international partners.

The Deputy Prime Minister requested that all parties perform well the tasks and obligations they have committed to, achieve high results in production and business, and ensure good material and spiritual life for workers.

In the context of increasing energy demand for development, the early and effective implementation of key energy projects, oil and gas projects, and important oil and gas contracts is of great significance, contributing to achieving the goals of developing the national oil and gas industry, ensuring energy security and socio-economic development of the country, the Deputy Prime Minister emphasized.

Deputy Prime Minister Bui Thanh Son and delegates at the signing ceremony - Photo: VGP/Hai Minh

Regarding the oil and gas industry, the Deputy Prime Minister requested the leadership and all employees of the oil and gas industry in general, PVN and its member enterprises in particular, to constantly innovate their thinking, be proactive, creative, and bold in action, improve their competitiveness and adaptability to successfully carry out tasks in the new situation, making PVN a strong energy group in the region and the world.

The Deputy Prime Minister requested the oil and gas industry and PVN to continue to promote the highest responsibility in exploiting and effectively using the country's precious resources.

At the same time, the oil and gas industry must closely follow programs and action plans, seize opportunities, be determined to overcome challenges, proactively and actively work with partners to remove difficulties and obstacles, speed up project progress, and successfully achieve the set goals./.

Hai Minh

Source: https://baochinhphu.vn/nganh-dau-khi-phai-khai-thac-su-dung-hieu-qua-tai-nguyen-quoc-gia-102250620173558806.htm