PVEP and Vietsovpetro signed FOA agreement for Block 09-2/10

ANH HUY |

On December 12, PVEP and Vietsovpetro Joint Venture signed an agreement to transfer participation rights and operation rights (FOA) of Block 09-2/10.

Attending the event, on behalf of the Vietnam Oil and Gas Group (Petrovietnam), there were members of the Board of Members (BOD) Tran Binh Minh, Tran Hong Nam; Deputy General Director Le Manh Cuong; and representatives of the Group's professional departments.

On Vietsovpetro's side, there were General Director Vu Mai Khanh; Deputy General Director Nguyen Lam Anh; Deputy General Director Tran Quoc Thang; and representatives of functional departments under Vietsovpetro's management apparatus.

On the side of the Oil and Gas Exploration and Production Corporation (PVEP), there were Chairman of the Board of Directors Nguyen Thien Bao; Deputy General Director in charge of operations Hoang Ngoc Trung; along with leaders of the Board of Directors, Board of General Directors, leaders of specialized departments/Office of the Corporation.

Based on the long-term and good cooperative relationship, in order to optimize resources and take advantage of the strengths of both sides, Vietsovpetro and PVEP decided to join hands to continue expanding the scope of cooperation through signing an agreement on the transfer of participation rights and operation rights (FOA) of Block 09-2/10.

Speaking at the event, Vietsovpetro General Director Vu Mai Khanh thanked the leaders of Petrovietnam and PVEP for creating favorable conditions and supporting Vietsovpetro to participate in cooperation at Block 09-2/10.

Through discussions and work, Vietsovpetro and PVEP have agreed on an implementation plan, promoting related work to complete legal procedures to obtain a new investment license, thereby coordinating the implementation of the first exploration well.

At the same time, Vietsovpetro also wishes to accompany PVEP in upcoming cooperation projects. General Director Vu Mai Khanh believes that the cooperation between Vietsovpetro and PVEP will become increasingly closer, helping the two units develop strongly.

At the event, Chairman of PVEP Board of Directors Nguyen Thien Bao emphasized that the signing of FOA Lot 09-2/10 contributes to realizing the Group's policy in developing value chain linkages between member units.

In the coming time, Chairman of the Board of Directors of PVEP Nguyen Thien Bao said that PVEP and Vietsovpetro will closely coordinate to quickly implement this project to achieve the best results, contributing to the growth mission of the Group.

On behalf of the Group's leadership, Deputy General Director Le Manh Cuong affirmed that the event not only demonstrated the spirit of sustainable cooperation between the two key units in the field of oil and gas exploration and exploitation of Petrovietnam but also demonstrated the vision, strategy and determination of both Vietsovpetro and PVEP in exploiting and developing the country's oil and gas resources.

The Group's leaders pledged to accompany and support PVEP and Vietsovpetro in effectively implementing the transfer and quickly putting the project into implementation.

ANH HUY
TIN LIÊN QUAN

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