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Vietsovpetro – The largest oil and gas producer in Vietnam 

 Tuesday, March 27,2018

AsemconnectVietnam - Overcoming over 30 years of efforts, Vietsoxpetro – Vietnam-Russia oil and gas joint venture has confidently marked its achievements on oil and gas industry of Vietnam and made important contributions to the development of the Vietnamese oil and gas industry in particular and the Vietnamese economy in general. Vietsovpetro is proud to be the largest oil and gas producer in Vietnam and the leading unit of the Vietnam National Oil and Gas Group.

At the first time, Vietsovpetro only had 168 employees and most equipments and technologies were imported and operated by the former Soviet experts. However, with constant efforts, all staffs united to overcome difficulties and acquired technologies and made remarkable development milestones of the oil and gas industry. Now, Vietsovpetro has over 7.000 highly qualified staffs who are capable of searching and exploiting oil and gas.

With modern and comprehensive infrastructure, Vietsovpetro has expanded operation scale to some countries. Over 30 years of operation, Vietsovpetro has surveyed and tested tens of thousands of square kilometers, and drilled 386 wells, including 61 exploration wells and 325 exploitation wells. In Bach Ho (White Tiger) and Rong (Dragon), the joint venture has built over 40 offshore projects, including 12 fixed rigs, 14 light rigs, 2 central technological platforms, two gas compression rigs, four seam pressure maintenance rigs and four oil tankers. All works are connected by underground pipes with a total length of 400 km.
Besides, in scientific research, Vietsovpetro has discovered seven oil fields with high commercial value and many oil-containing structures. Particularly, Bach Ho is the largest field with oil found most in granite basement, an unprecedented encounter after more than 400 discoveries to date, and more than 50 sedimentary basins in Northwest Belt, Pacific Arc. Vietsovpetro's oil discovery in basement rock (where was previously known to have no oil) with a large reserve has created a landmark in the history of Vietnamese petroleum industry and made Vietnam with a fledgling petroleum industry the third largest crude oil producer and exporter in ASEAN. It has also exerted a pull on big oil corporations worldwide to invest in searching, exploring and exploiting oil and gas in Vietnam.
Vietsovpetro researched and found out appropriate technical and industrial solutions to tap oil from the basement layer where geological features are complex and no similar model in the world has ever existed. In addition to its main task, Vietsovpetro has carried out many oil and gas production projects for other oil and gas companies and other national key projects such as PM3 - Ca Mau gas pipeline. 
In addition, the most striking success of Vietsovpetro is the successful construction of deepwater offshore exploration platforms for Dai Hung (Great Bear), Hai Thach and Moc Tinh fields and this asserts Vietsovpetro's capacity of offshore construction. In four years from 2009 to 2012, by accelerating exploration in Block 0-91 and actively putting more wells into operation, Vietsovpetro maintained its annual output of over 6 million tones a year in the period. This demonstrated that Vietsovpetro never gives way to difficulties and challenges. The joint venture produced 206.8 million tonnes of crude oil, earned gross revenue of over US$66 billion, and paid more than US$41.8 billion to the State Budget from 1986, the time it started commercial oil production, till October 2013.
Apart from production and business efficiency, the real values that make the Vietsovpetro brand name and culture are also clearly expressed in its social welfare activities, its attention to the formation of a safe working environment, its guarantee of legitimate rights and interests for workers.
Being fully aware that all achievements of Vietsovpetro are built by the intelligence, labor, flesh and blood of workers, the joint venture thus always put a premium on improving the living quality for employees. Working for Vietsovpetro, employees are assured of not only good living standards but also good moral values. The joint venture has built relatively consistent cultural institutions such as Vietsovpetro Hotel in Da Lat, Vietsovpetro Resort in Xuyen Moc and Zone 2 Culture and Sport Centre for its employees. After their 15-day missions to the sea, the employees will have comfortable places to relax, recover and release stress and play physical sports like volleyball, badminton, table tennis, swimming and tennis. Vietsovpetro also creates favorable conditions for its employees to acquire new experience and expertise. In addition, each offshore work of Vietsovpetro has a cultural room, table tennis court and volleyball court.
Accidents may happen to workers on offshore oil and gas facilities at any time. Thus, Vietsovpetro is clearly aware of the significance and importance of workplace safety. The joint venture has been building safety - sanitation networks in all production and business units and regularly disseminates regulations on occupational safety for employees. In addition, Vietsovpetro Medical Centre performs regular health check-ups for employees, ensures safety on offshore structures, and provides timely emergency aid for drilling rigs. Vietsovpetro Deputy General Director Vu Nam Cuong affirmed, "Every effort, every work Vietsovpetro does is for the legitimate rights and interests of employees. Materialistic value may not be necessarily great but its wholehearted care for its employees is surely great. Vietsovpetro always motivates its employees to devote more to their work."
Vietsovpetro also trains scientists and technicians to take on the entire stages of searching, exploring and exploiting oil and gas, not only for Vietsovpetro but also for the Vietnamese oil and gas industry and always takes the lead in social development and pro-community activities. Every year, the two governments of Vietnam and Russia agree to let Vietsovpetro spend US$3 million on social security, which aims to help build infrastructure in poor localities. Half of this fund is expended under the guidance of the Vietnam National Oil and Gas Group (PetroVietnam). Specifically, each year, Vietsovpetro employees donate 4 days of salary, altogether equivalent to VND8-10 billion, to social security funds like the funds for the poor, thanks-giving funds, PetroVietnam Mutual Assistance Fund, Vietsovpetro Mutual Assistance Fund to help oil and gas workers and Vietsovpetro employees in difficulty, take care of heroic Vietnamese mothers, and other unprivileged subjects.
With its outstanding operating achievements, Vietsovpetro has been honoured the Labour Hero title twice, Ho Chi Minh Order, Vietnam Gold Star Order, and many other awards and decorations from the two nations of Vietnam and Russia. These honours are not only the recognition of the endless efforts and creative labour of generations of leaders and staffs of Vietsovpetro over the past 30 years, but also the great motivation for the joint venture to develop more powerfully in the future. 
Source: Vccinews.vn

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