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Rosneft and Petrovietnam Leaders Visit Rosneft Operated Exploration Drilling Rig

14 March 2016

Rosneft Chairman of the Management Board Igor Sechin and Petrovietnam’s President & CEO Nguyen Vu Truong Son made a visit to Rosneft operated Lan Tay production platform and exploration drilling rig in Block 06.1 offshore Vietnam. Rosneft is the operator of the Block 06.1 asset with participating interest of 35%, Indian Oil and Natural Gas Corporation (ONGC) 45%, and Petrovietnam 20%.Igor Sechin and Nguyen Vu Truong Son were acknowledged about the status of the production programme and the implementation of the drilling operation, which started March, 9.

PLDD-1X’s design depth is around 1380 m, at the sea depth of about 162 m. Recoverable reserves of natural gas in the PLDD geological structure can be developed by subsea completion and tied-back to the existing Lan Tay platform.

The drilling is performed using the HAKURYU-5 drilling rig owned and operated by Japan Drilling Co., Ltd (JDC). Rosneft announced the signing of agreement with JDC at the Eastern Economic Forum-2015.

Following PLDD the Company will drill another exploration well in Block 05.3/11 also in the Nam Con Son basin. Incorporating the two wells into the same program will ensure synergy between the two projects and help reduce the timelines for implementation of the works, thus maximizing the efficiency of exploration projects at the Company’s Vietnamese assets.

Rosneft Vietnam BV also plans to shoot broadband 3D seismic of its existing Block 6.1 operatorship later this year to enhance ongoing production recovery and explore potential in deeper prospects.

Speaking during his visit to the drilling rig, Igor Sechin said: “The implementation of projects in Vietnam is one of the priority of Rosneft’s international strategy. The development of offshore fields in one of the most dynamically growing Asia-Pacific region country is a remarkable example of high-tech cooperation with our partners - Petrovietnam and ONGC. We appreciate not only the current progress of joint projects implementation in Vietnam, but also the future prospects for their development.”

Nguyen Vu Truong Son highly appreciated Rosneft’s efforts in drilling Wild Orchid well to the depth of more than a thousand metres, which is really a technological and technical challenge. The exploration program together with the drilling campaign this time reflected Rosneft’s determination in the maritime zones of Vietnam. As Operator of Block 06.1 and investor in the Nam Con Son Pipeline, Rosneft has made significant contributions to Vietnam. Mr Nguyen Vu Truong Son assured Petrovietnam’s strongest support for Rosneft’s development and expansion in the continental shelf of Vietnam.

Information Division,
March 14, 2016