Chevron to Invest $2.5 Bln in Gas Project Offshore South Vietnam
U.S. oil giant Chevron Corp. is negotiating with the state-run oil monopoly PetroVietnam group to contribute $2.5 billion to their gas production project costing $4 billion offshore southern Vietnam, said Hank Tomlison, general director of Chevron Vietnam.
The corporation has to date invest $300 million in the project, Tomlison attributed.
The project is expected to supply gas for electricity plants in the Mekong Delta region and ensure a long-term power strategy for Vietnam.
If the project is approved by the Vietnam’s government, Chevron will become the biggest foreign investor in Vietnam so far.
Tomlison also stressed that using gas will reduce environmental pollution and make a profit of around $15 billion within the next 20 years. (vnexpress.net, VOV)
Vietnamese
