Post Mr Ravi Ruia, Founder, Essar and Mr. Prashant Ruia, Director, Essar Capital, meeting with the senior level ministers and delegates of Vietnam in month of December last year in Delhi; Mr Pankaj Kalra – CEO of E&P business met with Vietnam Gas Corporation (PV Gas) to strengthen ties and work jointly to explore business collaboration and opportunities in the Vietnam market.
Post Mr Ravi Ruia, Founder, Essar and Mr. Prashant Ruia, Director, Essar Capital, meeting with the senior level ministers and delegates of Vietnam in month of December last year in Delhi; Mr Pankaj Kalra – CEO of E&P business met with Vietnam Gas Corporation (PV Gas) to strengthen ties and work jointly to explore business collaboration and opportunities in the Vietnam market.
The delegation of Essar Exploration & Production Ltd (EEPL), met Mr Hoang Van Quang – President & CEO, Mr Nguyen Thanh Binh – Vice President, Ms Le Thi Phuong Hanh - Head of Gas Contract Department, Mr Tran Anh Khoa - Deputy Marketing Department and officials of PV Gas's related departments/units.
The meeting initiated interesting conversations in understanding their experiences and exploring the possibility of cooperation between the two sides in the field of oil and gas. PV Gas emphasised the possibility of cooperating with EEPL in the field of transport and using LNG/CNG as fuel for public transport and heavy loads in Vietnam.
As one of the largest exploration and production (E&P) companies in India, Essar E&P primarily focuses on Unconventional oil and gas with resources of 15 trillion cubic feet of gas strategically located in major sediment tanks across the country. With about 25 years of experience in coal bed mathane, Essar E&P's Raniganj East coal gas field is not only India's largest, but also has abundant shale gas resources.
In Vietnam, Essar E&P holds 45% participation interest in Block 114 with Eni Vietnam B.V. holding the balance 55%. Block 114 is located off the northern continental shelf of Vietnam, in the Red River Tank, 65 km from the nearest mainland in Quang Tri Province, which is considered a historical discovery of Vietnam's oil and gas industry.