Joint venture set to commission two oil rigs in Q4

Source

Vietnam-Russia oil and gas joint venture Vietsovpetro is speeding up the building of marine constructions and aiming to put RC-RB1 and RC-10 rigs of the Dragon oilfield into operation in the fourth quarter of this year.

The venture is also preparing for its RC-8 and BK-22 projects while awaiting for approval.

Vietsovpetro is assigned to exploit over 2.9 million tons of oil equivalent and 65.4 million cu.m of natural gas this year. The operation of the oil rigs as scheduled is hoped to raise the venture’s target output for 2022 and the years to come.

It is also working to improve equipment supply efficiency for marine constructions and bolster inspection to prevent wastefulness.

Vietsovpetro engineers work in an oil rig

Safety measures are also in place together with the application of new technology in a bid to increase oil output and recovery.

Vietsovpetro will build digital transformation plans for the 2022-25, adopt measures on human resources management and arrange in-depth training to build expert contingent.

The venture is setting up a domestic supply chain for the wind power industry to enhance business efficiency as well as create jobs for workers, contributing to Vietnam’s energy transition.

It is planning to seek permission of the Government and relevant agencies to engage in offshore wind power.

In January, Vietsovpetro’s oil and natural gas outputs surpassed its targets by 3.6 percent and 13.6 percent, respectively.