The project, in the Cuu Long Basin off the southern coast of Vietnam, involves Vietsovpetro, PetroVietnam Exploration and Production Corporation (PVEP), and Russia’s Zarubezhneft, a 100% state-owned Russian oil and gas company, with Vietsovpetro acting as the operator.

Launched in June 2023 amid global supply chain disruptions, the project team optimised design, construction methods, and utilized available materials to maintain schedule and complete the project on time.

Bringing the field into commercial operation on schedule helps sustain and increase production, consolidates Vietsovpetro’s central role in Vietnam’s oil and gas exploration and production value chain, contributes to national energy security, and affirms sovereignty at sea through strategic cooperation in the Cuu Long and Nam Con Son basins.

Speaking at the ceremony, Deputy Prime Minister Bui Thanh Son congratulated Petrovietnam, Vietsovpetro, PVEP, Zarubezhneft, and other partners on the significant milestone and affirmed that despite global challenges in recent years, Vietnam has made important socio-economic, defence-security achievements, with the energy and oil and gas sector led by Petrovietnam making a critical contribution.

He urged companies and partners to build on today’s success, overcome challenges, and complete subsequent tasks on schedule, with high quality, and maximum efficiency. He assured that the Government would continue to support the oil and gas sector, remove obstacles, and improve regulations to strengthen sustainable development and competitiveness.

Highlighting the growing energy demand for national development in the new era, the Deputy Prime Minister called on Petrovietnam to continuously innovate, adapt flexibly, promote innovation, digital and green transformation, develop high-quality human resources, enhance leadership capacity, and foster a pioneering, responsible, and accountable spirit, especially among leaders and managers.

He also requested relevant ministries, agencies, and localities to continue supporting Petrovietnam, its member companies, and domestic and international partners in this and upcoming projects to ensure national energy security and serve the country’s development goals in the new era.

Meeting with met with Sergei Kudryashov, CEO of Zarubezhneft on the same day, the Deputy PM said that oil and gas cooperation symbolises close and effective Vietnam-Russia collaboration and contributes positively to development in both countries.

He welcomed over 40 years of cooperation between Petrovietnam and Zarubezhneft and encouraged both sides to enhance efficiency and promote collaboration in new areas such as green and clean energy. He reiterated the Government’s commitment to facilitating foreign investors in Vietnam.

For his part, Kudryashov reported on cooperation results between Petrovietnam and Zarubezhneft in Vietnam and Russia, and requested continued Government support to enhance further collaboration between the two companies.

Vietsovpetro welcomes first oil flow from Ca Tam field's second rig

Vietnam-Russia oil and gas joint venture (Vietsovpetro) on October 28 welcomed the first flow of oil pumped up from Ca Tam 2 production platform (CTC-2) at Ca Tam oil field.