JAPANESE operator JX Nippon Oil & Gas Exploration and Vietnam's PetroVietnam Exploration & Production (PVEP) have signed an agreement on the continued production and development of Vietnam's offshore Block 15-2 beyond its licence expiry. Block 15-2 lies in the Cuu Long basin about 135 kilometres southeast of Vung Tau in water depths of about 56 metres. The block contains the producing Rang Dong and Phuong Dong fields, which produce oil into the MV-17 floating storage and offloading vessel, while gas is piped onshore. First oil was generated in August 1998, and the production licence expires in April 2025. Block 15-2 is owned by operator Japan Vietnam Petroleum Company (JVPC); PVEP and Batavia Oil. JVPC is a subsidiary of JX Nippon Oil & Gas Exploration.
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