They have renewed the memorandum of understanding first signed in 2007 for five more years.

By Shardul Sharma

Japan Organization for Metals and Energy Security (JOGMEC) and state-owned PetroVietnam have renewed the memorandum of understanding for five years to pursue oil and natural gas, hydrogen and ammonia production and CCS/CCUS projects, JOGMEC said on November 24.

Based on the extended MoU, JOGMEC plans to conduct a geological evaluation of the target area, CO2 emission source survey, and business environment survey with PetroVietnam and its subsidiary, Vietnam Petroleum Institute, to investigate the feasibility of possible CCS/CCUS projects in Vietnam.

These projects are eligible for support under the revised JOGMEC’s law enacted earlier this month. As per the revised law, JOGMEC can now invest in hydrogen and fuel ammonia production and storage projects as well as CCS/CCUS projects.

JOGMEC's official name has been changed from Japan Oil, Gas and Metals National Corporation to Japan Organization for Metals and Energy Security.

JOGMEC and PetroVietnam concluded the original MoU covering upstream development of oil and natural gas in 2007, and have since conducted pilot tests of CO2 enhanced oil recovery in the offshore Rang Dong oil field in Vietnam.


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