Member of the Party Central Committee, Deputy Prime Minister, Minister of Foreign Affairs Bui Thanh Son attended and spoke at the signing ceremony.
Lot 15-1 is one of the oil and gas lots with special strategic significance for the exploration and exploitation activities of the Vietnam National Industry - Energy Group (Petrovietnam) and the Petroleum Exploration and Production Corporation (PVEP).
Since its discovery and development, Lot 15-1 has continuously contributed to large exploitation output, high economic efficiency and played the role of one of the pillars of national oil and gas exploitation output over the years.
Speaking at the signing ceremony, Deputy Prime Minister Bui Thanh Son affirmed that this event is a very important milestone in the development process of the Vietnamese oil and gas industry; a clear demonstration of the close and effective cooperation between PVN and PVEP with international partners.
The 15,1 block has been in operation for 27 years, exploiting about 430 million oil barrels, achieving a total revenue of more than 31 billion USD and paying the State budget of nearly 15 billion USD.
These are extremely impressive figures, 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.
According to the Deputy Prime Minister, the newly signed contract will facilitate continued effective exploitation of existing mines, while opening up opportunities to discover and develop new potential structures in the area.
Maintaining and expanding mining activities at Lot 15-1 also contributes to ensuring national energy security, while maintaining Vietnam's strong presence in sovereign seas.
"In the coming time, the demand for energy for development is very large, clearly demonstrated in the recent Adjustment of the 13th Power Plan. The early and highly effective implementation of energy projects, key oil and gas projects, and important oil and gas contracts, such as PSC Lot 15-1 today, plays a great role in contributing to achieving the goals of national oil and gas development, ensuring energy security and socio-economic development of the country - Deputy Prime Minister Bui Thanh Son emphasized.
Currently, PVEP - Petrovietnam's key unit in the field of exploration and exploitation - continues to take on the role of operator at many key oil and gas fields, in which Lot 15-1 is a typical example of mine management capacity and operational efficiency.
With the experience accumulated from the exploitation process in Bach Ho, Dragon, Su Tu Den, Su Tu Vang..., continuing to invest in Lot 15-1 promises to create great added value for the Vietnamese oil and gas industry in the coming period.
The signing of the PSC Lot 15-1 contract continues to affirm the correct policy of the Party and State on effectively exploiting oil and gas resources, associated with the development of the marine economy and maintaining national sovereignty.
At the same time, this is also a specific step forward in realizing the 2022 Oil and Gas Law towards the goals of sustainable and modern national energy development.
Deputy Prime Minister Bui Thanh Son suggested that the parties in PSC Lot 15-1 promote the highest sense of responsibility, cooperate closely and effectively, mobilize and use the strongest and most optimal resources, to effectively carry out the committed tasks and obligations, achieve high results in production and business, and ensure the material and spiritual life of workers.
