Development history:
Oil and Gas Production Enterprise is an affiliation of Viet-Nga Vietsovpetro which was established on 13th February 1987. After nearly 30 years of development history, OGPE is characterized by the milestone in the stages as below:
Establishment stage from 1987 to 1991:
13th February 1987: The discovery of first crude oil at Bach Ho based oil.
18th July 1988: The discovery of crude oil in ĐH-1 well at Dai Hung oil field.
06th September 1988: Commencement of crude oil production from MSP-1 at Bach Ho oil field. The production had reached to 8771 tons/day-night.
29th December 1988: The first anniversary of 1 million ton of crude oil.
16th July 1991: A agreement ceremony on the amendment of Vietsovpetro Joint Venture. At the end of 1991, the production reached to over 5 million tons of crude oil.
The stage from 1991 to 2001:
On 02nd March 1992, after the amendment of agreement, the production had strongly pushed and it reached to 10 millions tons of crude oil.
On 27th May 1995: The signing ceremony of Intergovernmental Agreement on the Russian Federation to inherit the rights and obligations of the Soviet Union (formerly) for Vietsovpetro Joint Venture. During the stage of 1991 to 2001, OGPE was rated as the development stage by constantly enlarging the activities for crude oil production. OGPE did proceed with the production of crude oil at Rong oil field, production of gas at Bach Ho oil field and completed the production of oil and gas at Dai Hung oil field.
Up to 21st November 2001, the production did reach to 100 millions tons of crude oil. During the stage of 1991 to 2001, OGPE was rewarded with many honorable awards by the Party and Government.
The stage of 2001 to now:
During this stage, OGPE has arranged and organized many investment programs to intensify its activities by putting more platforms and WHPs into the field in order to maintain the production output. Many agreement and documents has been mutual signed by both governments of Vietnam and the Russian Federation to promote trade activities between two countries.
A Plan for the target of 210 million ton of crude oil in 2014 has been achieved and OGPE had fulfilled its planned target ahead of schedule.