Gazprom Signs Deal for 49% in Vietnam Offshore Project

[Battle of Bach Dang River]

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Gazprom Signs Deal for 49% in Vietnam Offshore Project

RIANOVOSTI
Russian energy giant Gazprom has signed a deal to get a 49 percent stake in a project to develop offshore blocks 0.5.2 and 0.5.3 in Vietnam, Gazprom said on Thursday.
“In the presence of the Vietnamese president, agreements were signed on personnel training and retraining and Gazprom’s participation in the project to jointly develop licensed blocks 05.2 and 05.3 on the shelf of Vietnam,” the energy giant said in a statement.
The deal envisages Gazprom’s participation in the project on production-sharing terms. Gazprom will be represented in the project by a wholly-owned subsidiary, Gazprom International .
On December 15, 2009, Gazprom and Vietnam’s state-owned oil and gas company PetroVietnam signed a strategic partnership agreement, under which the parties undertook to continue joint development of deposits on Vietnam’s continental shelf blocks.
The licensed blocks 05.2 and 05.3 are located on Vietnam’s shelf in the South China Sea where Vietnam discovered two gas condensate deposits, Moc Tinh (within block 05.3) and Hai Thach (blocks 05.2 and 05.3), and also an oil deposit, Kim Cuong Day (block 05.2).
Total reserves of the two blocks are estimated at 55.6 billion cubic meters of gas and 25.1 million tons of gas condensate.
Gazprom and PetroVietnam intend to drill 16 operational wells with a depth of 2,000-4,600 meters to develop the blocks.

Gazprom Signs Deal for 49% in Vietnam Offshore Project | Business | RIA Novosti

[Martian2]

49% means Gazprom is the minority shareholder.

It's up to you Vietnamese to develop the gas field as the majority shareholder.

[Battle of Bach Dang River]

49% means Gazprom is the minority shareholder.

It's up to you Vietnamese to develop the gas field as the majority shareholder.

Yes, because the joint venture company of oil and gas exploration, GazpromViet, operates on the continental shelf of Vietnam, within Vietnam's EEZs.

[Martian2]

Yes, because the joint venture company of oil and gas exploration, GazpromViet, operates on the continental shelf of Vietnam, within Vietnam's EEZs.

You missed my point.

PetroVietnam (51% majority shareholder) has to deal with the PLA Navy. You can't drill unless China let's you, which isn't going to happen.

Gazprom (49% minority shareholder) is sitting on the sidelines.

[Yogi]

good news Viets
More Indian n Russian investment coming ur way

[shuntmaster]

You missed my point.

PetroVietnam (51% majority shareholder) has to deal with the PLA Navy. You can't drill unless China let's you, which isn't going to happen.

Gazprom (49% minority shareholder) is sitting on the sidelines.

Oil companies don't fight Navies, Navies fight Navies. Its responsibilty of the Russian Navy if their national offshore assests are attacked.

[dunhill]

You missed my point.

PetroVietnam (51% majority shareholder) has to deal with the PLA Navy. You can't drill unless China let's you, which isn't going to happen.

Gazprom (49% minority shareholder) is sitting on the sidelines.

With or without PLA Navy's Viet Nam still drilling, and willing to put up a fight with PLA Navy. Viet Nam never shaking its leg in front of China.

Battle in SCS is some kind of new for both China and Viet Nam, the toughest guy will remain in play the other will throw of towers before the ring bells.

[Battle of Bach Dang River]

You missed my point.

PetroVietnam (51% majority shareholder) has to deal with the PLA Navy. You can't drill unless China let's you, which isn't going to happen.

Gazprom (49% minority shareholder) is sitting on the sidelines.

Oh, but why GazpromViet joint venture company must to deal with the PLA navy while it only works within Vietnam's EEZs, and has been licensed by the Vietnamese government?

[GR!FF!N]

Oh, but why GazpromViet joint venture company must to deal with the PLA navy while it only works within Vietnam's EEZs, and has been licensed by the Vietnamese government?

thats only because even your EEZ in SCS is under "Ancient Chinese Claim"..beware..martian will come back with that "Ancient map" soon..

[Battle of Bach Dang River]

thats only because even your EEZ in SCS is under "Ancient Chinese Claim"..beware..martian will come back with that "Ancient map" soon..

Yes, but we have ample evidences to debunk so-called "historical basis" of China's claims in SCS.

Many old maps of China did not mention two archipelagos Paracels and Spratlys, and of course, china's claim U-shaped was painted only in 1947, first appeared in 1948.

1904 China map admits Paracel, Spratly not Chinese territory

[Srinivas]

You missed my point.

PetroVietnam (51% majority shareholder) has to deal with the PLA Navy. You can't drill unless China let's you, which isn't going to happen.

Gazprom (49% minority shareholder) is sitting on the sidelines.

Respect International laws, stop these empty threats. Now you are threatening Russia. Russians know what to do with drilling you don't have to worry.

[IZVINITE]

The Chinese Military are guarding what they claimed they own

[GR!FF!N]

Yes, but we have ample evidences to debunk so-called "historical basis" of China's claims in SCS.

Many old maps of China did not mention two archipelagos Paracels and Spratlys, and of course, china's claim U-shaped was painted only in 1947, first appeared in 1948.

1904 China map admits Paracel, Spratly not Chinese territory

who care what Vietnam says...if CCp says it belongs to "Middle Kingdom",its their...International rule doesn't apply on China..see,It is "Ancient Map",and its a claim of "Thousands of years and it is dream of their forefathers"...so international rule(which is neither ancient nor sympathetic towards China's ancient claim ,they only support war mongers) don't apply on them...what they think their own,they will claim and occupy,be it SCS,Spartly or South Pole..


but what they are missing is this is not ancient age,nor we care about ancient history much..plus...they don't know the consequences...China will fail miserably no doubt,but what will really hurt is that they will demolish every achievements they got by hard worked deplomacy in 30 years..

[kawaraj]

I don't think China even care who's this Gazprom, China does not care if Russian firm is involved.

and in a war with China, Vietnam will lost all islets it occupied status quo and that's something painful.

[Battle of Bach Dang River]

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I don't think China even care who's this Gazprom, China does not care if Russian firm is involved.

Maybe right, because China cares only in two countries - two friends of China.

and in a war with China, Vietnam will lost all islets it occupied status quo and that's something painful.

Dont you know that they are in the control of the missile along the coast of Vietnam?