Tien Hai gas field was discovered in 1975, marking a historic turning point in the Vietnamese oil and gas industry after many years of exploration. Since then, Tien Hai in Thai Binh province was dubbed the cradle of the Vietnamese oil and gas industry.
On April 19, 1981, after more than 20 years of exploration, the first current of gas in the Well 61 was brought ashore to fuel industrial production, paving the way for the formation of Thai Binh Gas Production Enterprise - the former of the Song Hong Oil and Gas Company - established on July 3, 1981.
In the past 30 years of construction and development with five times of business model transformation, the Song Hong Oil and Gas Company has always successfully completed its social and economic tasks and made significant contributions to the development of local industry and economy. Tien Hai field supplies some 700 million cubic metres of gas a year to more than 30 industrial enterprises in Tien Hai Industrial Park which contribute over 30 percent to the industrial production value of Thai Binh province.
The biggest challenge for the Song Hong Oil and Gas Company is now a sharp drop in gas output in the current field and known gas reserves will run out in one or two years if no new supplies are added. Exploration in the Red River Delta is difficult and risky because of limited oil and gas potentials. A small-scaled company will not be able to launch oil and gas exploration.
Before such difficulties and challenges, the Vietnam National Oil and Gas Group (PetroVietnam), the PetroVietnam Exploration and Production Corporation (PVEP), and concerned localities are supporting the Song Hong Oil and Gas Company to provide oil and gas services, maintain production gas output in Thai Binh and explore and appraise reserves in potential structures in the Hanoi basis, including both oil and coal, and other deposit structures in the Red River basin offshore Gulf of Tonkin. New gas discoveries in Blocks 102, 106, 103 and 107 offer a promising opportunity for oil and gas production to fuel industrial production in northern region in the coming time and Tien Hai Industrial Park at present.
In the next 10 years, strategic objectives of the Song Hong Oil and Gas Company are to develop into a real oil and gas explorer and producer and to take part in operation and production of many oil and gas projects.
The development road ahead is full of difficulties and challenges, requiring the entire company to share determination, dynamism and innovativeness to improve administrative and working skills and other competencies.
Song Hong Oil and Gas Company has a young, dynamic leadership and dedicated, enthusiastic and creative employees to advance its development objectives.
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