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Article: VIETNAM: Development plans for proposed $1,000,000,000 offshore natural gas extraction project, VIETNAM OIL & GAS CORP. (PETROVIETNAM) [Vietnam] - Order #: 118203.
- Article from:
- WWP-Report on Engineering Construct & Plant Operations in the Developing World
- Article date:
- November 1, 2003
CopyrightCOPYRIGHT 2003 Worldwide Projects, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PROJECT OVERVIEW:
In order to fuel power and nitrogen plants in the provinces of Ba Ria, Vung Tau and Ca Mau, the local VIETNAM OIL & GAS CORP. (PETROVIETNAM) recently announced that it will invest $1,000,000,000 in offshore natural-gas extraction projects between 2006 and 2010.
In so doing, the company is planning to produce enough natural gas to supply 40% of the country's total electrical energy demand by 2010. As a result, the corporation is said to be working on a number of projects, with priority given to foreign investors. These include a number of gas-run fertilizer plants worth $7,400,000,00 in Ba Ria-Vung Tau and Ca Mau provinces, an oil ...