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Rosneft Awarded Labour Order of the Socialist Republic of Vietnam

25 November 2015

Rosneft Vietnam B.V., a company of Rosneft Group, received a governmental award of the Socialist Republic of Vietnam - Labour Order Second Class - for the contribution to the Vietnamese petroleum industry, and strengthening of the friendship and cooperation between Vietnam and Russia.

On June 22, Rosneft Vietnam B.V. achieved an important milestone of its operational activity – 13 years of safe offshore operations. This is one of the best results in the industry.

May 1st, was marked by another distinguished accomplishment: Block 06.1 (Nam Kon Son basin) reached 300 million barrels of oil equivalent since the start of development. Rosneft Vietnam B.V. is the operator of Block 06.1.

In 2014 Rosneft production volumes at the Vietnamese shelf amounted to 38% of the overall gas production ofthe country. Around 14% of electric power produced in Vietnam in 2014 was generated from the Company’ gas. Rosneft is the leader of gas production in Vietnam and keeps the status of a reliable hydrocarbons supplier to the country’s market.

The Company continues active development of its projects in Vietnam. Thus, in the beginning of 2016 exploration drilling is planned at Phong Lan Dai Deep field of Block 06.1 and Block 05.3/11 in early 2016.

Note for editors:

Currently Rosneft is involved in projects related to gas and condensate production and geological exploration at two blocks on the Vietnamese shelf:

  • Block 06.1: Rosneft Vietnam B.V. owns 35% in the project, acting as the project operator; the project is being implemented based on the Production Sharing Contract (PSC). The PSC area comprises two gas condensate fields – Lan Tay and Lan Do. The fields are located 370 km from the shore in the Nam Con Son basin, the sea depth at the fields reaches 190 m. The initial gas reserves at the fields are about 68 billion cubic meters. By June 2015, accumulated production from Block 06.1 reached 300 million barrels of oil equivalent (or over 46 bcm of gas).
  • Block 05-3/11: Rosneft Vietnam B.V. owns 100% in the project and is the project operator. The licensed block is located in the region with proven hydrocarbon potential and well-developed infrastructure that also borders with the already operated fields of Block 06.1. The current estimate of reserves potential of the perspective fields of Block 05.3/11 is 40 billion cubic meters of gas and 9 million tons of gas condensate. 3D-seismic survey of 1,180 square kilometers and subsequent interpretation and studies have been completed, structures for exploration drilling activities in 2016 were defined.
  • Rosneft is also an investor with 32.67% equity in the Nam Con Son Pipeline – transporting gas and condensate from four offshore blocks in the Nam Con Son basin to power complex onshore –which creates a potential synergy in the event of discovery of commercial reserves in Block 05-3/11.

Information Division,
November 25, 2015