ENEOS taps PetroVietnam for Block 15-2 in the Cuu Long Basin
Petrovietnam signed a Petroleum Sharing Contract (PSC) for Block 15-2 in the Cuu Long Basin in collaboration with the contractor consortium, including Japan Vietnam Petroleum Company Limited (JVPC), a subsidiary of ENEOS Xplora.
With the current PSC set to expire on 6 April 2025, a new PSC for the block was signed with the approval by the Prime Minister of Vietnam. This PSC is among the first to be awarded under the new Petroleum Law in the country, effective from July 2023. JVPC will continue as the operator of Block 15-2 under the new PSC.
PVEP General Director Nguyen Thien Bao noted that for over 30 years, PVEP and JVPC have successfully implemented the Block 15-2 Project, which has significantly contributed to the development of Vietnam’s oil and gas industry. The selection of PVEP and JVPC to continue as the contractor consortium reaffirms the Vietnamese government’s trust in their proven expertise and successful track record.
Block 15-2 covers an area of approximately 415.9 sq km in offshore southeastern Vietnam, specifically in the central and northeastern part of the Cuu Long sedimentary basin. It includes the Rang Dong and Phuong Dong oil and gas fields, with an average water depth of 57–60 m. The block represents the remaining area of the previous PSC after the required relinquishments following the exploration phase. This area will now be further developed under the newly signed PSC.
