In October 2003, the Government decided to directly assign PetroVietnam to operate the Dai Hung oil field (located in Lot 05-1(a), in the Nam Con Son Basin offshore southern Vietnam, about 265 km southeast of Vung Tau city, with a water depth ranging from 110 to 120 meters) after the international contractor consortium withdrew due to uneconomic evaluation.
Based on the Government’s assignment to PetroVietnam for safe and most effective operation, the Petroleum Contract for Lot 05-1(a) was signed in 2009 with a 100% participation interest of PVEP (PetroVietnam Exploration and Production Corporation – a member unit of PetroVietnam) and the operator is PVEP POC (PVEP Onshore and Offshore Oil and Gas Operating Company – a member unit of PVEP).
As of the end of April 2025, Dai Hung oil field has exploited nearly 75 million barrels of oil, making a great contribution to the country’s revenue, creating jobs for thousands of workers over the periods, and contributing to protecting the country’s security and sovereignty.
On June 23, 2022, the Prime Minister approved the FDP of Dai Hung oil field Phase 3. After a process of implementation with many difficulties and challenges, the project officially came into operation on May 7, 2025, with a capacity of 6,000 barrels/day – 20 days earlier than the adjusted plan.
The project is undertaken by 100% Vietnamese personnel in the PetroVietnam ecosystem, taking charge of the entire process from planning, design, construction, supervision… As the EPCI general contractor, Vietsovpetro Joint Venture, together with the participation of important partners during the project implementation: Vietnam Oil and Gas Technical Services Corporation (PTSC), Vietnam Oil and Gas Drilling Corporation (PV Drilling). PetroVietnam’s workforce has overcome unprecedented challenges to bring the Phase 3 of Dai Hung Project to a successful conclusion.
The project plays a key role in maintaining production at the Dai Hung field, improving recovery factor, and enhancing economic efficiency. At the same time, the project also opens up opportunities for further exploration and expansion in Lot 05.1(a) and adjacent lots – a long-term strategy in ensuring energy security and national maritime sovereignty.
The success of the project not only contributes to ensuring the production of the Dai Hung field but also contributes to the total output of PVEP and PetroVietnam in the context that the Group is actively accelerating exploration and exploitation.
The achievement of Phase 3 of Dai Hung not only makes a practical contribution to the goal of increasing output and ensuring national energy security but also demonstrates the remarkable maturity of PetroVietnam’s staff of officials, engineers, and workers.
The Dai Hung oil field project in general and Phase 3 today in particular deserve to be one of the typical imprints, reflecting the spirit of proactiveness, self-reliance, perseverance, and creativity that PetroVietnam has been fostering continuously over the past half-century.
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