Its role Owner
PetroVietnam Exploration Production Corporation, abbreviated as PVEP, functions as the exploration and production division within the Vietnam Oil and Gas Group, commonly referred to as PetroVietnam. This entity is dedicated to the upstream activities in the oil and gas value chain, including the identification of potential reserves through seismic data analysis and drilling programs, followed by the development and commercial production of discovered fields.
PVEP's operations are concentrated in Vietnam's offshore basins, where it participates in multiple exploration blocks and production projects. It often enters into partnerships with foreign oil companies to share risks and expertise in complex deepwater or challenging environments. The company produces significant volumes of crude oil and associated gas, which are vital for Vietnam's energy needs and export markets.
Owned by the Vietnamese government through PetroVietnam, PVEP plays a strategic role in securing the country's hydrocarbon resources. It is headquartered in the capital city of Hanoi and maintains a workforce specialized in petroleum engineering and project management. In the broader industry landscape, PVEP is recognized as a major national oil company subsidiary, contributing to regional energy security in Southeast Asia while adhering to international standards in environmental and operational practices.
chemXplore tracks 1 project involving PVEP.
Improved export margins and record lubricants profits drove quarter; battery unit loss narrowed despite lower sales, while ESS orders and LFP supply deals in North America strengthen outlook.
Production started Sept 27 ahead of schedule; field holds ~60 million barrels recoverable and could reach 25,000 bpd. Nearby Lac Da Trang well found 56 m of oil-bearing reservoir at 3,834 m.
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