A Petrovietnam delegation led by general director Le Manh Cuong held a series of meetings with U.S. energy companies and participated in business forums as part of the U.S. visit by Vietnamese Party chief and State President To Lam last week.

The discussions focused on specific projects, including oil and gas field development, crude oil and LNG supplies, power-generation technology, and financing.

Petrovietnam, GE Vernova discuss power projects

On September 21 in New York, Cuong and executives from Petrovietnam's subsidiaries met GE Vernova to review cooperation in the power sector.

The discussions followed GE Vernova's supply of gas turbines for the Nhon Trach 3 and 4 power plants, Vietnam's first LNG-fired power project and developed by PetroVietnam Power Corp (PV Power) in Dong Nai province.

Petrovietnam and GE Vernova discussed technical solutions, project schedules, and technical support for key power projects.

The Vietnamese group proposed expanding cooperation into long-term maintenance services, offshore wind technology, digitalized power-plant operations, workforce training, and technology transfer.

Petrovietnam also met Murphy Exploration & Production Co (MEPCO) on the same day to discuss the development of the Lac Da Vang oilfield in Block 15-1/05, the Hai Su Vang field, and further exploration and appraisal activities in existing blocks.

The Vietnamese group expected Murphy to work closely with contractors and its subsidiaries to complete facilities needed for first oil from Lac Da Vang while maintaining safety and optimizing infrastructure for the production phase.

For Hai Su Vang, the two sides discussed resource assessment, preparation of field-development documents, and the next steps toward an investment decision.

Petrovietnam also backed further exploration of prospective structures in the Cuu Long Basin and the potential connection of new discoveries to Lac Da Vang infrastructure.

Cuong and Murphy Oil CEO Eric M. Hambly exchanged agreements related to the Lac Da Vang project during the visit.

Chevron agreement broadens energy-supply cooperation

On September 22, the Petrovietnam delegation joined discussions organized by Vietnam's Ministry of Industry and Trade on LNG supply contracts, increased imports from the U.S., and technology for separating and refining rare earths.

The delegation subsequently held a senior-level meeting with Chevron in New York, where Petrovietnam and the U.S. energy company signed a framework agreement to strengthen cooperation.

The agreement provides a formal framework for working with Chevron, an integrated energy company with global supply, trading and transportation capabilities.

Petrovietnam said cooperation with Chevron would support diversification of supplies of crude oil, LNG, LPG and refinery feedstock, while improving its flexibility in responding to market volatility and potential supply disruptions.

The framework also creates opportunities to cooperate on import and storage infrastructure, energy storage, financial and commercial solutions, technology, and emissions reduction.

Agreements support Lac Da Vang commercialization

PetroVietnam also exchanged agreements related to the commercialization of production from the Lac Da Vang project.

The agreements are intended to establish mechanisms for crude oil offtake, oil sales coordination, gas trading and transportation, and connection infrastructure.

The arrangements are expected to support the marketing of about 57.4 million barrels of oil and 68.8 million MMBtu of gas through 2039, with estimated commercial value in the billions of U.S. dollars.

Petrovietnam said the agreements would provide a framework for long-term revenue generation while helping bring the project's oil and associated gas to market and maximize recovery value from the field.

On September 23, Petrovietnam also exchanged a framework partnership agreement with Murphy Exploration & Production Co. at a Vietnam-U.S. business roundtable witnessed by To Lam.

The agreement establishes a framework for the two sides to pursue additional oil and gas exploration, appraisal, and production opportunities in Vietnam. It also provides for a joint working group to identify and assess potential projects and develop proposals for specific cooperation opportunities.

The series of agreements expands Petrovietnam's links with U.S. energy companies as Vietnam seeks to strengthen energy security, diversify supply sources, and accelerate development of domestic oil, gas and power projects.