Petrovietnam/Vietsovpetro inaugurates BK-24 wellhead platform

On the morning of November 8, Petrovietnam and the Vietnam-Russia Joint Venture Vietsovpetro held the inauguration ceremony of the BK-24 wellhead platform, a project to welcome the 14th National Party Congress.

The ceremony was attended by comrade Tran Luu Quang, Secretary of the Party Central Committee, Secretary of the Ho Chi Minh City Party Committee; comrade Le Quoc Phong, member of the Party Central Committee, Standing Deputy Secretary of the Ho Chi Minh City Party Committee. On the Petrovietnam side, there were comrade Le Manh Hung, Secretary of the Party Committee, Chairman of the Board of Members; comrade Tran Quang Dung, Standing Deputy Secretary of the Group Party Committee, and representatives of the leaders of the departments and member units.

Ho Chi Minh City leaders perform the inauguration ceremony of the BK-24 wellhead platform, a project to welcome the 14th National Party Congress. Photo: Petrovietnam.

Vietsovpetro's technological autonomy mark

The BK-24 project belongs to the Bach Ho field development plan, Block 09-1 (adjusted in 2024 - Southwest area), including the BK-24 wellhead platform (uninhabited) and the bridge connecting to the BK-20 platform. The platform is designed with 09 well locations, of which 06 are production wells (01 well converted to water injection) and 03 locations for future development.

The project started on February 6, 2025. By September 14, 2025, the BK-24 superstructure had been completely installed on the base, completing the main structure and entering the connection and sea trial phase.

At 5:30 p.m. on October 11, 2025, Vietsovpetro officially received the first commercial oil flow from the BK-24 rig with an initial flow of more than 400 tons/day and night at well 24001, 65 days earlier than planned.

BK-24 rig connected to BK-20 rig at sea. Photo: Petrovietnam.

To achieve this result, Vietsovpetro proactively started drilling well 24001 early from August 6, 2025 using the Cuu Long jack-up rig. This technical solution requires implementation in a very short time, minimizing design adjustments so as not to affect the project progress. After the Topside BK-24 was installed, the Cuu Long rig quickly arrived from September 19 to October 10, 2025 to complete the well, in parallel with the commissioning work at sea.

The BK-24 platform is the second field development project that Vietsovpetro will complete in 2025, after Kinh Ngu Trang – Kinh Ngu Trang Nam. Receiving oil 65 days earlier than planned not only demonstrates Vietsovpetro’s technical, organizational, project management and operational capacity, but also demonstrates the proactive, creative and effective spirit of the Vietnamese – Russian oil and gas labor collective.

In the context of the Oil and Gas industry promoting the effective exploitation of small, marginal fields, the success of BK-24 continues to affirm Vietsovpetro's strength in developing cost-optimized fields, contributing to increasing oil production output, ensuring the completion and exceeding of the 2025 production and business plan, while making an important contribution to the Vietnamese State budget.

Working program between Ho Chi Minh City leaders and Petrovietnam leaders. Photo: Petrovietnam .

Petrovietnam strengthens cooperation, promotes socio -economic development of Ho Chi Minh City

After the inauguration ceremony of BK-24 Platform, comrade Tran Luu Quang and the working delegation had a working session with Petrovietnam to evaluate the results of Petrovietnam's operations in the City and orient cooperation in the coming time.

In Ho Chi Minh City, Petrovietnam currently has 20 member units operating in production, business and investment, actively contributing to promoting the industrialization and modernization process of the City. These units are operating and managing a series of key industrial facilities such as the Nam Con Son gas system, LNG and LPG warehouses, Dinh Co gas processing plant, Phu My Fertilizer Plant, Vietnam NPK Plant, petroleum port warehouse system, offshore oil and gas projects in Ba Ria - Vung Tau... creating a closed, modern production - distribution chain, making an important contribution to promoting the industrialization, modernization process and forming high-quality energy - petrochemical - technical service industrial zones of Ho Chi Minh City.

In addition, Petrovietnam also has important contributions in many other areas such as: contributing to the growth and budget revenue of the City; ensuring sovereignty and security on the sea and islands and in the City; developing science and technology capacity, innovation; training, attracting and developing high-quality human resources; solving employment, increasing income and social welfare; participating in the ecosystem of industrial production and service value chains of the City.

Chairman of the Board of Directors of Petrovietnam Le Manh Hung affirmed Petrovietnam's commitment to seriously and effectively implementing the agreed contents, actively contributing to the socio-economic development of Ho Chi Minh City. Photo: Petrovietnam.

During the process of formation and development in Ho Chi Minh City, Petrovietnam has always received close attention and direction from the City Party Committee and People's Committee, along with the effective coordination of departments, branches and sectors. The City has focused on solving planning, land, investment and administrative issues, creating favorable conditions for Petrovietnam and its member units to carry out production, business and scientific and technological research activities.

These are very important factors, helping Petrovietnam and its member units operate effectively, achieve high results in recent times, and at the same time create a solid foundation for sustainable development orientation in the coming period.

Secretary of the Ho Chi Minh City Party Committee Tran Luu Quang expressed his high consensus with Petrovietnam's strategic cooperation proposals, affirming that these are orientations in line with the city's development vision and that Ho Chi Minh City will accompany and create favorable conditions for Petrovietnam to implement them.

The two sides agreed to focus on cooperation on five key pillars, including: (1) Smart urban development, in which Petrovietnam can contribute in energy and digital transformation; (2) Development of transport infrastructure - clean energy, towards green vehicles and emission reduction; (3) Development of energy supply chain and petroleum products, ensuring energy security for the City; (4) Construction of a Marine Technical Service Center, as the core for energy support industry; (5) Forming an innovative ecosystem, sustainable development associated with an environmentally friendly consumption - production model.

Ho Chi Minh City Party Secretary Tran Luu Quang visits PTSC Technical Logistics Service Center. Photo: Petrovietnam.

The City Party Secretary highly appreciated the potential, experience and cooperative spirit of Petrovietnam, and at the same time requested the City's departments and branches to closely coordinate to soon concretize the cooperation contents, contributing to sustainable and effective development and spreading community values.

In his reply, Chairman of the Board of Directors of Petrovietnam Le Manh Hung expressed his deep gratitude to the Ho Chi Minh City Party Committee, Ho Chi Minh City People's Committee and departments and branches for always paying attention and accompanying the Group. He affirmed that Ho Chi Minh City is not only an important economic center, but also a "big home" of more than 35,000 Petrovietnam officials, party members and employees. Comrade Le Manh Hung emphasized that the Group's member units will proactively coordinate with the City's departments and branches to concretize the cooperation content with a clear list and progress. Petrovietnam is committed to seriously and effectively implementing the agreed contents, actively contributing to socio-economic development and ensuring national energy security, and hopes to continue receiving the attention and support of Ho Chi Minh City in the coming time.

The working session between the Ho Chi Minh City Party Committee and Petrovietnam is an opportunity for the two sides to evaluate the results of cooperation over the past time, agree on strategic coordination directions - towards the goal of building Ho Chi Minh City into an industrial - energy - innovation center of the whole country, while realizing Petrovietnam's development vision according to the motto "pioneering - superior - sustainable - global."

In the 2020-2025 period, Petrovietnam has made outstanding progress with very high growth results compared to the 2015-2020 period in terms of scale and value, specifically: total assets estimated in 2025 are over 1.1 million billion VND, an increase of 247.1 thousand billion VND, equivalent to an increase of 29% compared to the beginning of the period in 2020; Total revenue of the whole Group in 2025 is estimated at 1.06 million billion VND, an increase of 87% compared to the beginning of the period in 2020, the 2020-2025 period increased by 49% compared to the 2015-2020 period, equivalent to 9-10% of the country's GDP;

Petrovietnam's total budget contribution in 2025 increased by 93% compared to the beginning of 2020, the 2020-2025 period increased by 37% compared to the 2015-2020 period, with an average annual budget contribution of over 160 trillion VND, accounting for 8-9% of the State budget revenue. Thus, Petrovietnam has fully completed the 5-year plan targets (2021-2025 period) assigned by the Prime Minister, maintaining its position as a key State-owned enterprise, contributing 15% to 37.3%/year.

Domestically, if only counting the state-owned enterprises, Petrovietnam's total assets account for 32.8% of the total assets of state-owned enterprises; equity accounts for 32.4%; consolidated revenue accounts for 26.1%. Compared to the international level, Petrovietnam is ranked 11th in the region by Fortune 500 Southeast Asia, 5th in the energy sector and is the Top 1 largest enterprise in Vietnam.

In addition to maintaining effective operations, Petrovietnam has been implementing many key national projects such as: Song Hau 1 Thermal Power Project, Thai Binh 2, Su Tu Trang Field Development Phase 2, LNG Thi Vai, Lot B Gas Power Chain... Petrovietnam has been successful in restructuring and shifting to a sustainable business model, increasing the proportion of technology, deep processing, and high value. Thanks to that, Petrovietnam has successfully fulfilled its mission of making an important contribution to ensuring 5 An: Energy security, Economic security, National defense security, Food security and Social security.

Source: https://nongnghiepmoitruong.vn/petrovietnam-vietsovpetro-khanh-thanh-gian-dau-gieng-bk-24-d783119.html