Hanoi (VNA) - The Vietnam-Russia oil and gas joint venture Vietsovpetro has recently sent a proposal to the Vietnam Oil ꦿand Gas Group (Petrovietnam) regardi﷽ng the expansion of its operating area.

Specifically, Vietsovpetro proposed Petrovietnam accelerate development plans for Blocks 09-2/09, 16-1/15, and 09-2/10, and ask the relevant authorities to approve Vietsovpetro's involvement in potential projects such as Blocks 17 and 05-2/10, while adopting Vietsovpetro's investment plans for new blocks.

Vietsovpetro General Director Vu Mai Khanh said Vietsovpetro is encountering challenges in mobilising floating systems and drilling rigs due to the scarcity and high re🐠ntal costs, which are hindering its expansion plans and ᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚactivities.

To overcome these challenges, Vietsovpetro has proposed geological and technical solutions, including increasing reserves, optimising drilling and production operations, ensuring timely completion of key construction projects, enhancing internal capabilities, maintaining a competitive edge in service supply, particularly in the renewable energy sector. It also aims to expand cooperation and leverage external factors to develop and expand other services, he said.

Petrovietnam General Director Le Manh Hung asked member units to work closely with Vietsovpetro to review the management system and propose more decentralisation to uphold the responsibility of the joint venture's leader.

He also urged Vietsovpetro to partner with Petrovietnam Technical Services Corporation (PTSC) to develop a plan for flexible and efficient resource sharing. This includes prioritising the use of services from units within Petrovietnam's ecosystem to increase the proportion of internal industry revenue and allocate resources to upcoming key projects such as Block B and offshore wind power.

In the first half of this year, oil production across all Vietsovpetro fields reached over 1.5 million tonnes, surpassing the plan by 48,600 tonnes. It is forecast that oil production in the second half will hit more than 1.44 million tonnes, and the expected figure for this year will be over 2.96 million tonnes, 🌠exceeding the plan by 70🦩,700 tonnes.

Natural gas production in the first half reached 38.3 million cu.m, exceeding the plan by 8.4 million cu.m. The estimated total for 2023 will be 70.7 million cu.m, 16.5 million cu.m higher than the target. On July 15, the RC-8 drilling rig in the Rong field, Block 09-1, officially welcomed the first oil flow, one month ahead of schedule, contributing to increasing Vietsovpetro's oil production this year./.