Vietsovpetro signed the contract with Hoang Long JOC on O&M of H5-WHP

On 04/08/2015, at Sheraton hotel in Ho Chi Minh City,  Joint Venture Vietsovpetro (VSP) & Hoang Long Joint Operating Company (HL JOC) signed the contract on operation and maintenance services of H5-WHP of  Te Giac Trang (TGT) field.

Following H1 and H4 WHPs, Vietsovpetro's Oil & Gas Production Enterprise (OGPE) under the authorization of Vietsovpetro, will continue to be allied with Malaysian Company Bumi Armada Berhad (BAB) to provide O&M service for H5 WHP in TGT oil field of HL JOC.

At the signing ceremony, Mr, Tu Thanh Nghia, Vietsovpetro's General Director gave his speech on behalf of VSP-BAB alliance. He expressed his sincere gratitude to Petrovietnam and PVEP for their support and trust in granting the project to VSP-BAB alliance. Mr. Tu Thanh Nghia also highlighted the achievements that VSP-BAB allaince gained in O&M of TGT field in the past years, particularly, 99,96% of the uptime and 1.5 million hours were reached with non-LTI. Mr. Tu Thanh Nghia undertook his committment to continuously improve the operational efficiency, ensure safety standards, increase quality of the service in order to bring about more benefits to the parties, as well as to strengthen  the rellationship between  HL JOC and VSP – BAB alliance.

On behalf of HL JOC, Mr. Cu Xuan Bao, the General Director, spoke about his contentment on the O&M service of VSP – BAB alliance in the past years. He highly appreciated the cooperation  between VSP and BAB in TGT field development project. He also expressed his hope of the parties' continuous high performance for H5 WHP. 

On behalf of Petrovitenam's management, Mr. Doan Dinh Thai, the director of Petrovietnam's Tender Management Division, extended his congratulations on the parties' reaching final agreement, as well as put his emphasis on the significance of H5 WHP's operation in increasing production output of TGT field in particular, and increasing the yearly yield of Petrovietnam in general. 

H5 WHP O&M contract has been marked as a milestone in the cooperation between VSP-BAB alliance and HL JOC. It is also a proof of the HLJOC' trust in the quality of service of the VSP-BAB alliance.