The Petroleum Contract for Block 15-2/01 was signed on April 26, 2005, and became effective on May 16, 2005. The contract has a duration of 25 years for crude oil exploration, appraisal, and production activities, and/or 30 years for gas exploration, appraisal, and production activities, with the possibility of a 5-year extension in accordance with the Petroleum Law. The contract was signed between the Vietnam Oil and Gas Group and the Contractor Consortium, comprising the Vietnam Oil and Gas Exploration and Production Corporation (PVEP) and Talisman (Vietnam 15-2/01) LTD (“TVL”). The project obtained Investment License No. 2479/GP on May 16, 2005, issued by the Ministry of Planning and Investment. Currently, the participation ratio among the Contractor Consortium is as follows: PVEP: 40%, Bitexco: 60%. The operator is the Joint Operating Company Thang Long Joint Operating Company (“TLJOC”). The project has fulfilled the minimum commitments stipulated in the PSC for Block 15-2/01 during the Exploration Period. The exploration results indicate the presence of commercially viable hydrocarbon discoveries. PVEP and TVL (via TLJOC) declared Commercial Discovery on February 6, 2009. The HST field achieved First Oil on May 19, 2013, and the HSD field achieved First Oil on June 19, 2013, according to the plan outlined in the Field Development Plan/Exploitation Development Plan (FDP/EDP). The total estimated recoverable reserves are 46.58 million barrels of oil (Hai Su Trang field: 17.78 million barrels and Hai Su Den field: 28.8 million barrels); 67.7 trillion cubic feet of associated gas (Hai Su Trang field: 13.918 trillion cubic feet of associated gas and Hai Su Den field: 53.79 trillion cubic feet of associated gas); associated gas production is estimated at 40.94 trillion cubic feet.