During the first days of establishment, Vietsovpetro had only 168 cadres and employees with its initial production activities run by the experts from Russia. At that time, most of the joint-venture’s equipment and technology were mainly imported from foreign countries. However, after over 30 years, Vietsovpetro has become the country’s leading unit in the field of oil and gas exploration and exploitation with a staff of 7,000 professional employees in 60 different industries and a synchronized and advanced infrastructure and technical system both in the mainland and offshore. 
 

Vietsovpetro is the unit exploring three large oil fields, including Bach Ho (White Tiger), Mo Rong (Dragon) and Gau Lon (Big Bear). Of which, Bach Ho is the largest oil field in Vietnam that ranks 3rd among explored ones in the Pacific rim (including Japan, China and ASEAN countries). It was the first to discover reserves within highly fractured granite basement rocks that had never been seen in over 400 oil fields in 50 sediment basins the Pacific rim. It is the great contribution of Vietsovpetro’s geologists to Vietnam’s oil and gas sector and ushers in a new direction in the work of oil and gas exploitation and exploration in the region. Furthermore, Vietsovpetro’s discovery of a big oil reservoir in Bach Ho basement has been an essential factor to increase oil output, and at the same time to attract foreign investment to Vietnam’s petroleum industry.

Besides Bach Ho, Vietsovpetro also explored many other oil fields of great potential. To date, Vietsovpetro has produced 193 million tonnes of crude oil and gathered and transported 23 billion m³ of associated gas and LPG to the mainland, bringing Vietnam to rank 3^rd in oil production and export in ASEAN, after Indonesia and Malaysia.

Thanks to the tireless efforts made by its employees, Vietsovpetro discovered suitable technical solutions for optimum exploitation of oil reservoirs in the basement with complicated geological features. Experience and studies of this joint venture have been multiplied and widely applied in Vietnam and in the world. Various “initiatives and inventions” campaigns in the joint venture bring practical benefits, making significant contributions to fulfilling Vietsovpetro’s petroleum exploration and production targets. 

Besides the achievements in the field of oil and gas exploration and exploitation, Vietsovpetro has also participated in constructing many projects for companies operating in Vietnam’s continental shelf and in other countries in the world.

Over the years, Vietsovpetro has trained a number of management staffs, technical specialists, engineers and skillful workers, who are able to master specific equipment and stages, such as designing, manufacturing, resembling large-scale oil and gas works and building many projects in the deep water and offshore areas. Vietsovpetro is also the centre for training human resources for Vietnam’s petroleum industry.

In 2012, Vietsovpetro completed its target of producing 6.11 million tonnes of oil and bringing ashore 1.23 billion m³ of gas. The total exploitation output of oil of Vietsovpetro reached over 6.5 million tonnes in 2012.

VIETSOVPETRO Address: 105 Le Loi, Ward 6, Vung Tau City, Ba Ria-Vung Tau Province, Vietnam Tel: +84.64.3839871 Fax: +84.64.3839857 Web: http://www.vietsov.com.vn

In its development will continue to 2015 and orientations to 2025, Vietsovpetro will continue effectively and safely exploiting oil and gas reserves in Bach Ho and Rong Oil Fields. It will also put the fields with defined reserves into operation and speed up the work of exploration and exploitation in other areas in Vietnam’s continental shelf and in deeper water areas.

This joint venture will continually expand its work on surveying geography and exploiting oil and gas in foreign countries and actively participate in projects of PetroVietnam in expanding operations in countries in Africa, South America and other countries in the region.

With its effective operation in the fields of oil and gas exploration and exploitation, building petroleum works, conducting scientific research in the sea and Vietnam’s continental shelf, Vietsovpetro has contributed to ensuring energy security for the country, increasing export value, bringing about great economic benefits for both Vietnam and Russia and affirming the sovereignty of the country.