Welcome ceremony for the first oil flow from the white rhino field

Welcome ceremony for the first oil flow from the white rhino field - 

At October 30 evening, in Ho Chi Minh city, PetroVietnam held a welcome ceremony for the first oil flow from the drilling rig H5 of the white rhino field managed by Hoang Long Company in join-venture with partners from Vietnam, US and Thailand. Vice Prime Minister Hoang Trung Hai attended and spoke at the ceremony.

Mr. Hoang Trung Hai praised Hoang Long company successful in detecting and bringing rig H5 of the white rhino field into operation with a progress over the government requirement, economizing investment costs, guaranteeing development quality and safety

“ The supplement of a 10,000-12,000 barrels per day oil output from rig H5 has contributed to guarantee energy security of the country in the condition of more and more increasing demand for oil products, grown economic values for the parties to the petroleum contract of 16.1 Lot, reflected successful economic cooperation between Vietnam and foreign partners and also showed the consistent principle of Vietnam always to create the most favorable conditions for foreign investors making business in Vietnam”, said Mr. Hoang Trung Hai also asked joint venture company to carry out well development and management of the field, guarantee the safety and efficiency of the project; continue to extend the activities for exploratory search to obtain more successes.

On this occasion, on behalf of the Party and State, Vice Prime Minister Hoang Trung Hai awarded Labor medals and certificates of Prime Minister for some typical groups and individuals of excellent achievements in project implementation.

At 10h15, August 13, 2015 the first oil flow from H5 well head rig of White Rhino field (TGT-H5-WHP) was brought into exploiting system, earlier for 80 days than the plan approved by the government.

White Rhino project includes an oil containing and processing ship, two well head rig groups and an internal pipeline system. H1 rig was operated in 2011 and H4 rig – in 2012.

The USD 324 million approved total investment H5 rig project has completed after 22 month implementation with 2.4 million safe working hours and USD 37million economizing sum. With a 10,000-12,000 oil barrel per day output, the project contributes to increase output of White Rhino field to 40,000-42,000 barrels per day and 11.56 million barrels per year; compensate a part of output loss of H1 and H4 groups.

The project contributes to increase many USD millions in 2015 for participants in contract of

16-1petroleum lot and Vietnam side, and also increase profits for investors and government of Vietnam up to USD 400 millions.

This is the third project Hoang Long company has completed over the schedule. The project has obtained the certificates from International Register of Shipping (Germanischer Lloyd) and Vietnamese Register of Shipping (VIRES).

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