Unusual Gas Field Forces International Giants to Withdraw
The Bien Dong 01 project, developing the Hai Thach – Moc Tinh condensate gas fields (Blocks 05-2 & 05-3, Nam Con Son Basin), is considered one of the most complex gas exploitation projects in Southeast Asia.
This marks the first time Vietnam has faced such extreme geological conditions: reservoir temperatures nearing 170°C, pressures exceeding 400 atm, located in deep waters approximately 320 km offshore with depths reaching 145 meters. These parameters place it among the world’s rarest gas fields.
Discovered by BP (UK) in the early 1990s, ConocoPhillips later joined the exploration efforts. However, despite promising gas reserves, both international giants withdrew after over a decade of assessment, transferring full operational control to Petrovietnam by late 2008.
Petrovietnam Steps into the Void and Achieves the Extraordinary
To consolidate resources, the Bien Dong Petroleum Operating Company (BIENDONG POC) was established in early 2009, becoming the project’s flagship operator. A core team comprising seasoned professionals from the corporation’s strongest units, alongside young engineers, embarked on this unprecedented endeavor with a mix of excitement and apprehension.
Petrovietnam’s then-CEO, Mr. Do Van Hau, recalled the initial phase as a blend of enthusiasm and anxiety due to the project’s unprecedented scale, nature, and risks. Yet, all were resolute in maximizing internal capabilities to execute the project.
A comprehensive campaign was launched within the oil and gas sector. Key entities, including Vietnam Petroleum Technical Services Corporation (PTSC), Vietsovpetro Joint Venture, Petroleum Engineering and Construction Corporation (PVE), Petroleum Drilling and Well Services Corporation (PV Drilling), Vietnam Petroleum Institute (VPI), Vietnam Petroleum Energy Technology Corporation (PV EIC), and PetroVietnam Technical Services Corporation (PETROSETCO), collectively undertook the entire chain of design, fabrication, construction, drilling, and operation.
Vietsovpetro and PTSC upgraded port facilities, enhanced manufacturing capabilities, and collaborated closely with international experts to meet stringent global standards.
Monumental structures emerged. The offshore production and processing platforms, entirely designed and fabricated by Vietnamese engineers, not only met technical and safety benchmarks but also rivaled the world’s most advanced oil and gas projects.
Fabrication of the PQP-HT central processing platform’s jacket and topside at PTSC’s manufacturing yard, 2011 (Photo: PVN).
At the time, this was Vietnam’s largest offshore platform system: two 14,000-ton production platforms, a 30,000-ton central processing platform (PQP-HT), and 90 km of intra-field pipelines. Total steel usage exceeded 60,000 tons—equivalent to three Wembley Stadiums, 330 Boeing 747s, or 1,200 heavy tanks.
Progress accelerated at a breakneck pace. By August 2013, gas from the Moc Tinh 1 platform began flowing to the PQP-HT via a 20 km subsea pipeline.
On September 6, 2013, Bien Dong 01 officially commenced commercial gas production, contributing an average of 2 billion m³ of gas and 2.5 million barrels of condensate annually to Southeast Vietnam. It became a vital supply source for power plants and fertilizer factories.
Four DPM Subsidiaries Unanimously Finalize 2026 Strategic Plans
Four subsidiaries, directly owned by Petrovietnam Fertilizer and Chemicals Corporation (PVFCCo – Phu My, HOSE: DPM) with a 75% stake, have collectively unveiled their 2026 business targets, following in the footsteps of their parent company’s new year planning initiative.
Two-Month Odyssey: Vietnam’s State-of-the-Art Jack-Up Rig Defies Oceans to Return Home
This marks a pivotal milestone in the rig restart program.
Tech Giant Unveils 2026 Business Plan, Aiming to Pocket Over $2 Million Daily
In 2026, the parent company aims to achieve a remarkable milestone with a targeted revenue of 15,295 billion VND and a net profit of 647 billion VND.
From Import Dependency to Technological Mastery and Production Autonomy
From a nation once entirely reliant on imports, Vietnam has emerged as a self-sufficient producer of three strategic, specialized fuels critical for national defense: Jet A-1K, DO L-62, and A80 RON83.
Prime Minister Pham Minh Chinh Officially Appoints Chairman of Petrovietnam Group
Prime Minister Pham Minh Chinh has officially appointed Mr. Le Ngoc Son as the Chairman of the Members’ Council of the Vietnam Oil and Gas Group (Petrovietnam).
