Business

Agreement signed on gas exploitation at While Lion field

The PetroVietnam Gas Corporation (PV Gas) and the PetroVietnam Exploration Production Corporation (PVEP) inked on February 17 an agreement in principle on cooperation in developing phase II of the Su Tu Trang (White Lion) gas field.
Agreement signed on gas exploitation at While Lion field ảnh 1Building a rig which will be installed at the Su Tu Trang gas field (Photo: VNA)

Hanoi (VNA) – The PetroVietnam Gas Corporation(PV Gas) and the PetroVietnam Exploration Production Corporation (PVEP) inkedon February 17 an agreement in principle on cooperation in developing phase IIof the Su Tu Trang (White Lion) gas field.

Under the deal, PV Gas will contribute through PVEPone quarter of the estimated investment of 500 million USD in the phase II ofthe Su Tu Trang (White Lion) gas field.

In Phase II, gas exploitation is hoped to beginin the fourth quarter of 2019, with the volume of gas extracted to reach 1.5billion cubic metres a year.

Gas from Su Tu Trang will be directly deliveredto the mainland through the Nam Con Son 2 pipeline project, phase II, with117km of pipeline at sea and another 39km onshore.

Su Tu Trang will be the main source of gassupply for the Dinh Co 2 gas processing plant, which will become operational inthe fourth quarter of 2020.

PV Gas and PVEP, two subsidiaries of the VietnamNational Oil and Gas Group (PetroVietnam), pledged to conduct negotiations toearly sign an investment cooperation contract based on the agreement inprinciple.-VNA
VNA
#PV Gas #PVEP #Su Tu Trang #gas exploitation
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