On August 18, Deputy Prime Minister Bui Thanh Son attended the welcoming ceremony for the first oil flow from the Kinh Ngu Trang - Kinh Ngu Trang Nam mine development project (KNT-KTN) operated by the Vietnam-Russia Joint Venture Vietsovpetro, held in Vung Tau ward, Ho Chi Minh City.
Previously, Deputy Prime Minister Bui Thanh Son attended the ceremony to name the PV Drilling VIII self-elevated drilling rig of Petroleum Drilling and Gas Drilling Services Joint Stock Corporation (PV Drilling).
The project to develop the Rural Development - Transport sector of lot 09-2/09 has a total investment of nearly 650 million USD, including: 2 large CPP-KNT mines (about 12,500 tons) and WHP-KTN (about 3,600 tons); more than 84 km of underground pipelines and 3.5 km of underground cables; reformed 3 existing drilling rigs MSP9, MSP10, BK15; 28 wells.
According to Mr. Vu Mai Khanh - General Director of the Vietnam - Russia Joint Venture of Vietsovpetro, the project was implemented in 33 months, through periods with a series of challenges such as the COVID-19 pandemic, geopolitical conflicts, supply chain disruptions, difficulties in mobilizing drilling rigs and strict technical requirements on safety... However, with flexible management capacity and maximum mobilization and reasonable resource rotation, the project has been completed in accordance with the set requirements.
"At exactly 7:09 a.m. on July 14, 2025, the project officially welcomed the first commercial oil flow, 1 day earlier than planned, reaching more than 6.6 million hours of absolute safety, without any accidents or serious incidents," Mr. Khanh informed.
The project's oil flow will contribute to maintaining exploitation output in the context of declining neighboring mines, contributing to ensuring national energy security, maintaining sovereignty over islands and affirming Vietsovpetro's role in offshore oil and gas operations.
Speaking at the event, Deputy Prime Minister Bui Thanh Son assessed that the above achievements are an important technical step forward, marking a new step in the comprehensive development process of PetroVietnam in general and member enterprises in particular. At the same time, it affirmed the role of effective, long-term, and reliable cooperation in the field of oil and gas energy between Vietnam and the Russian Federation, clearly demonstrating the good development and comprehensive strategic partnership between the two countries.
The Deputy Prime Minister requested all employees and partners related to the RNT-KTN project to continue promoting the achieved results to continue to strive to overcome difficulties and successfully carry out the next work; especially ensuring progress, absolute safety, good quality, achieving the highest production and business efficiency, bringing benefits to both sides.
