PetroVietnam, Exxon Mobil Sign Agreement to Continue Joint Gas Project -- State Media
January 13 2017 - 4:56AM
Dow Jones News
By Vu Trong Khanh
HANOI--Vietnam Oil & Gas Group, or Petrovietnam, and Exxon
Mobil Corp. (XOM) Friday reached a framework agreement that paves
the way for the two companies to continue their joint work to
develop Ca Voi Xanh gas field offshore Vietnam, Vietnamese state
media reported.
The framework agreement is important for their contractors to
complete the preliminary front end engineering design so that they
can start commercial gas production from the field in 2023, Vietnam
News Agency reported.
In the initial stage, the gas output would be supplied to a gas
complex in central Vietnam that would include four gas-to-power
plants with combined capacity of about 3,000 megawatts, the report
said.
PetroVietnam said last year it started studying a possible site
for building a gas-processing plant as part of the complex in Quang
Nam province. The complex would also include an 88 kilometer gas
pipeline that would annually transport 9 billion to 10 billion
cubic meters of gas ashore.
Ca Voi Xanh gas field is 88 kilometers east of Vietnam's central
coast. The field's recoverable reserves are estimated at 150
billion cubic meters of gas, making it the largest in Vietnam.
Write to Vu Trong Khanh at trong-khanh.vu@wsj.com
(END) Dow Jones Newswires
January 13, 2017 04:41 ET (09:41 GMT)
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