PetroVietnam, ExxonMobil sign gas purchase agreement

Friday, 2017-01-13 12:38:12
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At the signing ceremony
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NDO—The PetroVietnam Exploration Production Corporation (PVEP) under the Vietnam National Oil and Gas Group (PetroVietnam) and ExxonMobil Vietnam signed a framework agreement on the Ca Voi Xanh field project development and a gas purchase agreement from the Ca Voi Xanh field on January 13.

Addressing the signing ceremony, Deputy Prime Minister Vuong Dinh Hue remarked that he appreciated the efforts of both PetroVietnam and ExxonMobil for signing agreements during the time from the signing of the petroleum contract in 2009 to the recent deal on gas purchase from the Ca Voi Xanh field.

The Deputy PM suggested the two sides produce the first gas from the field off central Vietnam in late 2023.

The development of the Ca Voi Xanh gas field will provide gas to the central region of Vietnam and the possibility of supplementing the supply of power to the south, contributing to developing the petrochemical industry and the local economy.

In its first phase, the Ca Voi Xanh field project will supply enough crude gas for four power plants with a total capacity of 3,000MW including two plants at Chu Lai economic zone in Quang Nam Province and two plants at Dung Quat Economic Zone in Quang Ngai Province.

In the next phase, the project will provide enough gas for the fifth power plant with a capacity of 750MW.