Deals Monitor

Vietnam-Russia joint venture welcomes first oil flow from C? T?m field

Source: Vietnam News

The Vietnam-Russia oil and gas joint venture Vietsovpetro held a ceremony in the southern province of B? R?a-V?ng T?u to welcome the first flow of oil pumped from the C? T?m oil field.

Built in March 2018, the CTC1-WHP oilrig is the most important component of C? T?m?s development project under a shared production contract signed by the Vi?t Nam Oil and Gas Group (PetroVietnam), the PetroVietnam Exploration Production Corporation (PVEP) and Bitexco Group.

On February 10, Vietsovpetro put its first well into operation. It plans to open an additional six wells this year, raising the total annual capacity to 766,000 tonnes.

In the near future, it will step up oil and gas exploration and exploitation in the C?u Long field, contributing to safeguarding Vi?t Nam?s sovereignty and economic interests on its continental shelf and territorial waters. 

Source: Vietnam News