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Petrovietnam Acquires Two Oil and Gas Exploration And Exploitation Companies And A Pipeline Company Owned By Chevron In Vietnam

June 17, 2015 - Vietnam Oil and Gas Group (Petrovietnam) has acquired 100% of the shares of the Chevron companies with assets in Vietnam and the operatorship that are part of the Block B, Block 48&95 and Block 52/97 projects, off Vietnam’s continental shelf. These companies include Chevron Vietnam (Block B) Ltd, holding a 42.38 % operating interest in the PSC covering Blocks B and 48/95, Chevron Vietnam (Block 52) Ltd, holding a 43.40% operating interest in the PSC covering Block 52/97 and also the operator under the two PSCs, and Chevron Southwest Vietnam Pipeline Co. Ltd, holding a 28.7% working interest in a pipeline project that would deliver natural gas from offshore to gas users in Vietnam.

Petrovietnam press release: International arbitral tribunal sides with Petrovietnam in Production-Sharing Contract tax incentive dispute

In an award issued on 22 May 2015, an international Arbitral Tribunal constituted under the Arbitration Rules of the International Chamber of Commerce (ICC) and comprised of leading international arbitrators Gary Born (Chairman), David A. R. Williams QC and Yves Derains has unanimously agreed with PetroVietnam’s position in a major tax incentive dispute under a production sharing contract for a Vietnamese offshore oil concession. All claims against PetroVietnam were rejected and the claimants were ordered to reimburse PetroVietnam’s costs of arbitration in full.

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PV GAS welcomes and works with Korea Gas Corporation On April 7, at PV GAS tower, the delegation of Korea Gas Corporation (KoGas) led by Mr. Kiho Moon - its Deputy General Director visited and worked with Petrovietnam Gas Joint Stock Corporation (PV GAS).  The meeting was attended by PV GAS representaives including Mr. Nguyen Thanh Binh - Deputy General Director; Mrs. Le Thi Phuong Hanh - Head of Gas Contracts Department; Mr. Nguyen Phuc Tue - Director of PV GAS LNG and officials of relevant departments/units at PV GAS.  KoGas was established by the South Korean Government in 1983. Since its establishment, it has grown to become the world's largest LNG importer and a unique LNG supplier in South Korea. Currently, KoGas is operating and exploiting 4 processing plants for gas from LNG and th PV GAS welcomes and works with Korea Gas Corporation On April 7, at PV GAS tower, the delegation of Korea Gas Corporation (KoGas) led by Mr. Kiho Moon - its Deputy General Director visited and worked with Petrovietnam Gas Joint Stock Corporation (PV GAS). The meeting was attended by PV GAS representaives including Mr. Nguyen Thanh Binh - Deputy General Director; Mrs. Le Thi Phuong Hanh - Head of Gas Contracts Department; Mr. Nguyen Phuc Tue - Director of PV GAS LNG and officials of relevant departments/units at PV GAS. KoGas was established by the South Korean Government in 1983. Since its establishment, it has grown to become the world's largest LNG importer and a unique LNG supplier in South Korea. Currently, KoGas is operating and exploiting 4 processing plants for gas from LNG and th

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Address: Floor 12-15, PV GAS TOWER, No. 673 Nguyen Huu Tho Street, Phuoc Kien Commune, Nha Be District, Ho Chi Minh City.
Phone: +84.28. 3781 6777 Fax: +84.28. 3781 5666 Email: pvgas@pvgas.com.vn

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