SK Innovation to operate oil block 16-2 offshore Vietnam

At the ceremony, SK Innovation, Korea's first and largest energy, chemical company received data and documents regarding the block in Cuu Long Basin.

The PetroVietnam’s unit and SK Innovation have been strategic partners since 1998. The two firms have been working on oil block 15-1 and 15-1/05 with achievements, said Chairman of PVEP Tran Hong Nam.

In the first 6 months of 2020, equivalent oil production of PVEP was estimated at 2.01 million tons, exceeding 4% of the plan while gas sales volume was 589 million cu.m, beating target by 1%.

However, the firm did not meet the financial target due to the COVID-19 pandemic and low oil price, said CEO Tran Quoc Viet.

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