A deal on the purchase of gas from Thai Binh field has been reached between the Vietnam National Oil and Gas Group and Petronas Carigali Overseas Sdn. Bhd and the PetroVietnam Exploitation and Production Corp.

This is an important agreement beginning the first project on taking gas from the Bac Bo (Tonkin) Gulf to shore, supplying more energy to the Red River delta, thus contributing to the region’s socio-economic development in the coming years.

The field is expected to produce the first gas flow in late June 2015, with an output of 20 million cubic feet per day.

Its reserve is estimated at about 140 billion cubic feet.-VNA