Vietsovpetro Extracts First Oil from New Rig at Dragon Field

Vietsovpetro, a Vietnam-Russia joint venture, has successfully extracted its first crude oil from the newly installed RC12 wellhead platform at the Dragon field, Block 09-1, in Vietnam's Cuu Long basin, the company announced on September 11. The operation of the RC12 platform comes as Vietsovpetro continues its efforts to maintain production from its traditional offshore fields in Vietnam, which have been in operation for decades and are experiencing declining output. The RC12 platform is designed to process 1,500 cubic meters of oil per day, 300,000 cubic meters of gas per day, and 250,000 cubic meters of gaslift per day. It is expected to boost production from new areas within the Dragon field while leveraging Vietsovpetro's existing infrastructure in Block 09-1. According to PetroVietnam, the first crude oil from the RC12 platform was brought up at 11:11 AM on September 11, 2026. The platform, designed with four legs and nine well slots, is based on the results of wells R-79, R-81, and R-82, which confirmed the hydrocarbon potential in the area. Design and procurement for the project began in March 2025. Offshore, the jacket foundation was installed and completed on April 26, 2026, followed by the topside installation and completion on August 22, 2026. Inspection and acceptance tests were finalized on September 10, a day before the platform welcomed its first oil. Vietsovpetro is a joint venture between Vietnam Oil and Gas Group (PetroVietnam) and Russia's Zarubezhneft Group. The company not only develops major oil and gas areas but also constructs smaller wellhead platforms to exploit smaller, less accessible reserves, integrating their output into the common production system to sustain or supplement overall field production. Prior to RC12, Vietsovpetro brought the RC-8 platform at the Dragon field into operation in July 2023. The RC-8 project included a wellhead platform, subsea pipelines, and subsea power cables connected to the RC-5/9 cluster. The first commercial oil from RC-8 was recorded on July 15, 2023, about 30 days ahead of schedule. The extraction of the first oil from RC12 comes just days after Vietnamese General Secretary and President To Lam's state visit to Russia from September 7-9. During the visit, PetroVietnam and Zarubezhneft signed a framework agreement for cooperation on building strategic oil reserves in Vietnam. Specific details regarding the scale, capacity, or investment of this project have not yet been disclosed. PetroVietnam stated that oil and gas continue to be a crucial area in Vietnam-Russia cooperation. Mr. To Lam also invited Zarubezhneft to participate in new energy projects in Vietnam.