PVGAS

Once Upon a Time...

en-USvi-VN

Close

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.

© Copyright PETROVIETNAM GAS JOINT STOCK CORPORATION (PV GAS)
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

Back To Top