Having produced oil and gas from the waters off the southern coast for years, energy giant, state-owned PetroVietnam, is now in the search for fossil fuels in the mountainous areas.
PetroVietnam Exploration and Production Corp., the upstream arm of PetroVietnam, is carrying out a project to evaluate oil and gas resources in the north eastern mountainous area. The first phase of the An Chau Basin Project that began in February 2012 has been completed and the second phase is now under way, according to a report from PetroVietnam-run Petrotimes earlier this week.
Vietnam’s Tam Dao 03 drilling rig. Photo by Vietsovpetro
The An Chau Basin is located in the country’s north eastern region, spanning across Lang Son, Bac Giang and Quang Ninh provinces on an area of 10,000 km2.
The project has not found any prospects for oil and gas resources in the basin from February 2012 to April 2014, PetroVietnam has said.
Vietnam’s production of oil and gas mainly comes from the country’s south.