Vietnamese Prime Minister Pham Minh Chinh and Algerian Prime Minister Sifi Ghrieb at the Vietnam-Algeria Economic Forum. Photo: VGP
This is the Bir Seba oil and gas project, a joint venture between Vietnam’s PetroVietnam Exploration and Production Corporation (PVEP), Algeria’s National Oil Company (Sonatrach), and Thailand’s PTTEP.
The project was highlighted during the Vietnam-Algeria Economic Forum on November 19, 2025, attended by both Prime Ministers.
The Bir Seba project exemplifies the encouraging progress in economic cooperation between Vietnam and Algeria.
At the forum, Prime Minister Pham Minh Chinh emphasized that Vietnamese businesses can invest in Algeria across diverse sectors, from tea cultivation to semiconductor production, and urged immediate action.
The first pillar of cooperation mentioned was energy. The Prime Minister stressed that PetroVietnam and other firms should expand partnerships in oil exploration, refining, and fertilizer production for export, with a focus on renewable energy like wind and solar power.
Prime Minister Pham Minh Chinh addressing the forum. Photo: VGP
Earlier that day, during talks with Algerian Prime Minister Sifi Ghrieb, Prime Minister Pham Minh Chinh requested continued support for PetroVietnam’s expanded investments in Algeria, aiming for stable operations and greater contributions to Algeria’s development.
PetroVietnam’s Two-Decade Investment in Algeria
PetroVietnam’s delegation, led by Tran Binh Minh, visits the Bir Seba oil field in Algeria. Photo: PetroVietnam
On November 17, 2025, as part of the 13th Vietnam-Algeria Inter-Governmental Committee meeting, PetroVietnam’s delegation inspected the Bir Seba field in Block 433a&416b, located in Hassi Messaoud, Ouargla Province, 600 km south of Algiers.
The contract for Block 433a&416b, signed in 2002 between PIDC (now PVEP) and Sonatrach, led to the formation of the Groupment Bir Seba (GBRS) joint venture in 2008, comprising PVEP, Sonatrach, and PTTEP.
Since commercial production began on August 12, 2015, GBRS has maintained safe and stable operations, averaging over 5 million barrels annually. Cumulative production has reached approximately 61.56 million barrels.
Expansion plans include connecting wells in EPC #6 and further development to increase capacity, targeting a total production of 114.6 million barrels by 2033.
PetroVietnam’s delegation at the BSR-25 wellhead, a key production site. Photo: PetroVietnam
After a decade of preparation, at 11:10 AM Algeria time (5:10 PM Vietnam time) on August 12, 2015, the Central Processing Facility (CPF) received oil from four initial wells (BRS-6bis, BRS-9, BRS-12, BRS-14), marking the ignition of the flare in the Sahara Desert.
This milestone underscores PetroVietnam’s achievements and elevates Vietnam’s oil and gas industry to new heights.
PetroVietnam Strengthens Strategic Partnership with Kuwait Petroleum Corporation
On the morning of November 16th, as part of their working visit to Kuwait, the delegation from the Vietnam Oil and Gas Group (Petrovietnam), led by General Director Le Ngoc Son, held a meeting with the leadership of the Kuwait Petroleum Corporation (KPC).
Petrosetco Surges Following PVN’s Announcement to Auction Entire Stake at Starting Price of 36,500 VND/Share
Petrovietnam is set to auction its entire 23.21% stake in Petrosetco (HOSE: PET), a leading integrated oil and gas services company, with a starting price of VND 36,500 per share. This move, valuing the entire lot at nearly VND 910 billion, immediately sent PET shares surging to their upper limit on the morning of November 10th, despite the market price still trailing 12% below Petrovietnam’s offering price.
PetroVietnam’s Response to the Ministry of Foreign Affairs’ Headquarters Proposal
Petrovietnam, the National Oil and Gas Group of Vietnam, has tasked its relevant units with initiating procedures and coordinating with the Ministry of Foreign Affairs to acquire the project at 2 Le Quang Dao, Hanoi. This strategic move aims to develop a new office headquarters, marking a significant step in the group’s infrastructure expansion.
PetroVietnam Launches Critical Phase of B-O Mon Gas Field Development Project
On the morning of November 8th, at the PTSC Logistics and Technical Service Center in Ho Chi Minh City, the Vietnam Oil and Gas Group (Petrovietnam) held a ceremony to commemorate the 14th National Party Congress. The event celebrated the completion of the Upper Jacket and Topsides for the Central Processing Platform (CPP), a critical component of the gas field development project in Blocks B & 48/95 and 52/97.
Petrovietnam and Vietsovpetro Inaugurate the BK-24 Wellhead Platform
On the morning of November 8th, the Vietnam Oil and Gas Group (Petrovietnam) and the Vietnamese-Russian joint venture Vietsovpetro held a ceremony to inaugurate the BK-24 wellhead platform. This significant project serves as a tribute to the 14th National Party Congress.
