BP, Partners Plan US$2Bln Gas-power-fertilizer Project
BP Group and other partners are planning to invest in a giant project in southern Ba Ria Vung Tau province, similar to the Nam Con Son Gas Project but with higher investment capital of over US$2 billion, said BP Vietnam on March 7.
Under the plan, a gas pipeline will be built to carry gas from Hai Thach Block 5.2 and Moc Tinh block 5.3 in Nam Con Son Basin to the mainland.
The project’s file has been submitted to relevant agencies, BP Vietnam said, adding that partners cooperating with BP are also keen on the project.
According to the Ministry of Planning and Investment (MPI), once this project becomes operational, it will have great impact on the local oil and gas sector in particular and the economy in general
In 2001, the BP group, the Vietnam Oil and Gas Corporation (PetroVietnam), India’s Oil Natural Gas Corporation Limited (ONGC), and the US’s ConocoPhillips invested US$1.3 billion to implement the Nam Con Son project.
That project has to date supplied 11 billion cubic meters of gas for the Phu My power complex in Ba Ria Vung Tau province. (Vietnam Economic Times, Vietnam Banking Times, New Hanoi)
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