After seven years of consolidation, Hoang Long - Hoan Vu Joint Operating Companies (HLHVJOC) has made steady progress and managed to achieve rapid development and success, of which it is justifiably proud steps. The company has generated billions of US Dollars for its Shareholders and the Government of Vietnam.
HLHVJOC was formed from the merger of Hoang Long Joint Operating Company (Hoang Long JOC) as the oil and gas operator of Block 16-1 and Hoan Vu Joint Operating Company (Hoan Vu JOC) as the oil and gas operator of Block 9-2, offshore the southeast of Vietnam. This administrative consolidation took place in 2008 and has helped save millions of US dollars a year. Shareholders of the JOCs are Petrovietnam Exploration Production Coporation (PVEP) from Vietnam, PTTEP from Thailand, SOCO from the UK and OPECO from the USA. At present, the company has 141 employees, including 15 foreigners of different nationalities.
Since its establishment, HLHVJOC conducted geological tests and detailed geophysical tests in the Cuu Long Basin. A large volume of three-dimensional seismic data was collected and processed using the most advanced technologies. The company then drilled many test wells on different structures in Block 9-2 and Block 16-1.
In 2006, Hoan Vu JOC developed Ca Ngu Vang field in the northwest of Block 9-2 in line with the Prime Minister’s Decision No. 1696/QD-TTg dated 28th December, 2006. The Ca Ngu Vang (CNV) field was developed by tying into the existing facilities at Bach Ho field, operated by Vietnam-Russia Joint Venture (Vietsovpetro) and this enabled the field to start commercial production after just one year from the date of development commencement. CNV field has operated efficiently since its first production on 27th July, 2008.
Hoang Long JOC undertook geological, seismic and geophysical studies and drilled test wells to evaluate reserves at Te Giac Trang (TGT) field in Block 16-1. Hoang Long JOC started field development in 2009 and so far has produced over 50 million barrels of crude oil and collected over 30 billion cubic feet of gas from this field.
Dr. Cu Xuan Bao, General Manager of the JOCs commented that field operations to date have been completely safe and effective. The company has delivered over 200 oil cargoes in total safety and operations have never been suspended because of bad weather.
The company is undertaking further TGT field development to maintain output and increase economic interests for its Shareholders as well as for the Government of Vietnam. Hoang Long JOC has actively explored for new oil and gas reserves and in 2013, it encountered a potential oil and gas discovery in Block H5. The company has actively and effectively carried out the necessary works to evaluate reserves and develop the field for commercial production which is due to begin in Q3 this year.
Dr. Cu Xuan Bao said HLHVJOC’s achievements are as a result of the solidarity and shared efforts of all its employees. Although the company has many foreign employees who bring different cultures and working styles with them, flexible policies have been successful in capturing their joint efforts for the company’s benefit.
US-based OPECO one of Hoang Long JOC’s Shareholder that has always provided timely support to the JOC. During exploration, development and operational activities on the TGT and CNV fields, HLHVJOC have been using services, equipment and chemicals from various US suppliers like Capstons, Baker Hughes, Halliburton, Weatherford and CAMCO. In general, the cooperation with US suppliers has been timely and effective. As a service user, the JOCs welcome US investors and providers of oil and gas equipment and services to Vietnam. HLHVJOC is eager to further expand the cooperation and share experiences with US companies in oil and gas exploration and production.
Van Luong
Vietnamese
