The established system is capable of identify, assess, make decisions, even actively collect information and respond about opportunities and threats which are material to the Company’s objective. Owing to an advanced, consistent system like this, PVD Deepwater has successfully taken over, mastered modern technology, operated the TAD efficiently at Hai Thach - Moc Tinh field, where was well-known as the most difficult place at Southern self-contient, Vietnam with harsh weather condition and complicated geological structures.

PVD Deepwater always focuses on training and developing the workforce with sufficiently skillful and competent to comprehend and operate the high-spec TAD safely and efficiently. Therefore, right from the first step, the Company’s management has set up a detailed training program, put them into practice and ensure the consistent application.

Since the launching of PV DRILLING V in offshore Vietnam on October 17th, 2011, with closely strategic direction of PetroVietnam, PV Drilling’s Board of Management and Drilling Division (PVD DD); the cooperation from our customer, Bien Dong POC; together with the strong awareness of high-tech application, PVD Deepwater has successfully operated the TAD with efficiency ratio above 95%, as well as maintained working safety, then substantially enhanced profitability of the Company. PVD Deepwater’s successful rig management has been reflected through the service quality for the customer. After nearly two years of operation, PV DRILLING V has drilled and run casing for many wells at the well-heads of Hai Thach - Moc Tinh field, in which there are four completed wells in the complicated geological and hydrolic region, average reservoir depth at 4,000 meters, with high gas pressure at 420 - 530 atmosphere and high temperature at 120 - 175 degrees Celcius. Such high pressure and temperature gas field like this one is very rare in the world, so really dangerous and risky. The success of high-technology application of the TAD has significantly contributed to the great accomplishment of Project Bien Dong 1 (East Sea 1), managed by Bien Dong POC - the joint venture between PetroVietnam and Russian Oil and Gas Group - Gazprom), with the first commercial gas  announced at 14:45 on August 5th 2013 after three years of development. The first commercial gas was transmitted from the well-head platform Moc Tinh 1 (MT1) through a 20-kilometre pipe to the central gas processing platform - Hai Thach PQP. At 2:21 on 7th August, 2013, splitted condensate was safely transported to FSO. This important event has marked the great success of Project Bien Dong 1, which was initiated to exploit two gas and condensate fields, named Hai Thach and Moc Tinh in block 05.2 and 05.3 respectively, belonging to Nam Con Son gas development project with expected production in 25 years, daily capacity of 25,000 barrels of condensate and 8.5 million cubic metres of natural gas. Gas will be transmitted to shore via Nam Con Son pipeline upon the gas distribution contract with PetroVietnam Gas Corporation (PV Gas).

Up to now, PetroVietnam and Gazprom have partnered to conduct several significant exploration and production projects offshore Vietnam with the term of 30 years, and option to extend for five more years. Among those projects, the first two fields, Hai Thach and Moc Tinh, have officially been put into the commercial production stage with total expected capacity of 3 billion cubic metres of natural gas p.a. The success from these two fields reinforces the strategic collaboration between oil and gas companies of Russia and Vietnam, represented PetroVietnam, as well as the strong partnership between the two Governments.

Moreover, the successful well development in Hai Thach and Moc Tinh field has pioneered the new way for other oil and gas joint ventures in Vietnam to apply the technology of the TAD in the well development in other deep-water areas, with high economic effectiveness, high technology, also create the development of specialized supporting technical services, and also form the sustainable development basis for both PVD Deepwater and PV Drilling.

The contract with Bien Dong POC is the project of national stature, marking a great development milestone in the exploration and production activities in deepwater regions of PetroVietnam. It is a clear successful evidence for the strategic vision and close direction from PV Drilling’s Board of Management to generate effective and appropriate solutions like building Enterprise Risk Management system to control operations risk, applying HSEQ (health - safety - environment - quality), setting up standardized, consistent management system, maintenance system, supply chain and inventory management system following Economic Order Quantity Model (EOQ) with flexibility determined by auto min - max at both central and satellite warehouses, Reliable Control Maintenance, rig management procedure, risk preventive system in rig operation, human resource management, etc., with effective management tools to support PVD Deepwater to develop over investors’ expectation during 2012 - 2013 and gearing towards sustainable development in the coming financial years.

Last but not least, the workforce at PVD Deepwater is always pro-active to research, apply advanced technology into actual business operations as well as to present at the Specialized Scientific and Technology Conference in order to improve technological expertise of the drilling crews, so to continuously manage the rig efficiently and safely. Such efforts have been rewarded by the Certificate of High-technology Application by Ministry of Science and Technology on August 31st 2012 for “The technological application of the semi-submersible tender assist drilling rig (TAD) for the oil and gas exploration and production activities in Vietnam’s deepwater areas”.

Source: VCCI