Vietnam to Put into Operation Three Oil Refinery Plants in 2009

Vietnam’s first three oil refinery plants are expected to become operational in 2009 with total annual capacity of 14.5 million tons of petroleum products, State media said.

 

They will include the 6.5-million-ton-per-year Dung Quat plant costing US$2.5 billion in central Quang Ngai province, the 5-million-ton Nhon Hoi plant costing US$1.5 billion in central Binh Dinh province, and the 3-million-ton Phu Yen plant central Phu Yen province.

 

A consortium comprising of France’s Technip, Malaysia’s Technip Geoproduction, Japan’s JGC and Spain’s Tecnicas Reunidas is building the Dung Quat plant, while a Hong Kong firm will build Nhon Hoi plant and two investors from Britain and the Netherlands will construct the Phu Yen plant.

 

Vietnam will also put into operation two more oil refinery plants in 2015 and 2020, including the 7-million-ton Nghi Son oil refinery plant in central northern Thanh Hoa province and another of the same capacity in the south. Prime Minister Phan Van Khai has just appointed oil monopoly PetroVietnam to find investors for the Nghi Son plant.

 

Vietnam is estimated to be in need of 15-16 million tons of petroleum products each year in the 2006-2010 period and 26-28.6 million tons in 2020.

 

In 2005, Vietnam imported 11.3 million tons of petroleum products worth nearly US$5 billion.