[Through a series of acquisitions and renaming of operations, connections between national oil and gas corporations are hidden... Only through a thorough researching of the names involved can we hope to know who is drilling where and who is offering cover for big corporations devouring little fish and stirring-up international tensions in the process.... We see from the following that the international monster corporation Gazprom is tied to the new Indian/Vietnamese/Chinese tensions developing in Vietnam's Block 128. Gazprom is also tied to Israel/Cyprus/Turkey/Lebanon tensions over drilling in the Mediterranean... Gazprom and Vietnam are partners on much of the offshore drilling, except, reportedly, on block 128. Now we find that Vietnam's partner in the coming intrigue, OVL of India, has a base of operations in Cyprus, which has purchased Russian assets in Siberia and Sakhalin. Through a complicated of arrangements, Gazprom's hand is hidden in the challenge to China and India's possible involvement in the tensions brewing in the Eastern Med are hidden, as well... Behind all of this, the US hand is nearly invisible, as is the British Petroleum connections....but we have to remember that Russia has joined the axis of Evils CIA/MOSSAD/MI6 for good....]
OVL, ONGC Videsh Ltd., is a wholly owned subsidiary of Cyprus-based, ONGC–
Gazprom and Vietnamese oil and gas corporation Petrovietnam signed a cooperation agreement on November 20, 2006. The agreement provides for cooperation of the companies in the following areas:
Blocks Nos. 112 and 129–132
–[excludes Block 127 and 128, India/Vietnam block. Even though Gazprom is not an obvious partner in India/China/Vietnam spat, OVL and Gazprom partner in Siberia, making Gazprom indirect participant in China S. China Sea challenge.--editor]
Gazprom and Petrovietnam signed a strategic partnership agreement on December 15, 2009. The document provides for cooperation of the companies in the following areas: (AREA 3)
- active cooperation in oil and gas projects in Russia, Vietnam, and third countries within the established Gazpromviet company (in particular, the parties are considering potential participation in development of the Naguman oil, gas and condensate field as well as in projects for exploration and development of subsurface areas in the Republic of Sakha, Eastern Siberia, and the Far East);
Participating Companies and their Shares :OVL – 20%,Exxon–30% ,Sodeco – 30% ,SMNG – 11.5% ,RN Astra – 8.5% (Operator – Exxon Mobil)
Sakhalin-1 is a large oil and gas field in far east offshore in Russia. OVL acquired 20% PI in the project in 2001. The exports of Sakhalin -1 crude oil started from September, 2006. The project is operated by Exxon Mobil. OVL’s share of production from the project was 1.474 MMT of oil and 0.415 BCM of gas during 2010-11 as compared to 1.532 MMT of oil and 0.390 BCM of gas during 2009-10.
Block 06.1 :
Participating Companies and their Shares :OVL-45%,BP-35% ,PV-20% ,(Operator – British Petroleum (BP))
OVL, British Petroleum (Operator) and PetroVietnam have developed the Lan Tay field in Block 06.1 offshore Vietnam. The field started commercial production of Gas in January, 2003. The project is operated by British Petroleum. OVL’s share of production from the project was 2.249 BCM of gas and 0.038 MMT of condensate during 2010-11 as compared to 1.967 BCM of gas and 0.042 MMT of condensate during 2009-10. OVL’s share of the development expenditure was about USD 244 Million till 31st March, 2011.
Block 127 :
Block 127 is an offshore deepwater Block, located at water depth of more than 400 meters with 9,246 sq km area in Vietnam. The PSC for the Block was signed on 24th May, 2006. OVL holds 100% PI in the Block with Operatorship. OVL has acquired 1,150 sq km 3D seismic data in the Block and the interpretation of the seismic data has been completed. Location for drilling of exploration well was identified and the well was drilled in July 2009 to a depth of 1265 mts. As there was no hydrocarbon presence, the Company has decided to relinquish the block to Petrovietnam. The Company has invested approx USD 68 million till 31st March, 2010.
Block 128 :
Participating Companies and their Shares :OVL- 100%
OVL signed a contract for 100% stake in the project in May, 2006. The project is operated by OVL. OVL had deployed the Rig Hakuryu-V on well B 128-RV-1X on 2nd September 2009 for drilling. However rig could not be anchored despite adding Piggy Back to the existing anchors. The drilling activity was terminated and it is planned that the location would be drilled in 2012 subject to successful field testing of anchors. OVL has invested about USD 46 million till 31st March, 2011 ....