The first cut ceremony for the project was held on Friday at the fabrication yard of Vietsovpetro, a Vietnam-Russia joint venture. PVEP's Ho Chi Minh City branch, PVEP-HCM, is the project owner, while Vietsovpetro is the EPCIC (engineering, procurement, construction, installation and commissioning) contractor.

PVEP-HCM and Vietsovpetro signed the EPCIC contract for the project on July 28, 2026.

The project will comprise a wellhead platform, subsea pipelines, and an integrated power and fiber-optic cable system connecting the field to the existing Thang Long-Dong Do production cluster for processing and sale of oil and gas.

Vietsovpetro will handle engineering, fabrication, transportation, and installation of the KNV-WHP platform, pipelines and cable system, as well as modifications to existing facilities.

The Kinh Ngu Vang development is a marginal field designed to tie into existing infrastructure at the Thang Long-Dong Do cluster, which is entering major maintenance. The development therefore faces challenges in controlling costs, maintaining the schedule, and ensuring safety and quality, PVEP said.

According to the project's environmental impact assessment, the field is designed to produce about 6,470 barrels of oil and 3.1 million cubic feet of gas per day. The development includes 12 wells, of which nine will be put into production. Seven will be newly drilled, while two existing wells will be completed and reconnected.

Oil and gas from the field will be transported through about 11.5 km of multiphase pipelines and 8.7 km of gas-lift pipelines, along with about 12.8 km of integrated power and fiber-optic cables, before being processed and sold through the existing Thang Long-Dong Do facilities.