The Vietnam Oil and Gas Group (PetroVietnam), Japan Vietnam Petroleum Company Limited (JVPC), and the PetroVietnam Exploration and Production Company have signed a historic 25-year Production Sharing Agreement (CPP). This contract was signed on March 31, 2025 for oil and gas exploration in Block 15-2 of the Cuu Long Basin, in the southern waters of

Deputy Prime Minister Bùi Thanh Son Vietnam and Japan signed a historic 25-year Production Sharing Contract (CPP) on March 31 for oil and gas exploration in Block 15-2 of the Cuu Long Basin in Vietnam's southern waters. He emphasized the importance of foreign investment for Vietnam's key economic sectors, including oil and gas exploration. For him, cooperation with foreign partners, including Japanese companies with advanced technologies, not only facilitates the transfer of new technologies for the oil and gas sector, but also helps PetroVietnam position itself on the global oil and gas scene

The signature of the CPP builds on existing infrastructures and experienced personnel, allowing for efficient resource extraction. This initiative, according to Deputy Minister of Industry and Commerce Nguyen Hoang Long, will contribute to the achievement of the government's double-digit growth goals from 2025, while strengthening economic cooperation, a key pillar of the comprehensive strategic partnership between Vietnam and Japan. This contract will take effect on April 7, 2025.