Sochi, September 7 - Neftegaz.RU. Alexey Miller, CEO of Gazprom, Nguyen Vu Truong Son, CEO of PetroVietnam, and Nguyen Quan Chinh, Vice Chairman of the Quang Tri Provincial People’s Committee, today signed in Sochi a Memorandum on the roadmap for the implementation of an integrated project entitled «Bao Vang Field Development – Power Plant Construction in Quang Tri Province.»
The Memorandum reflects the intention of the parties to deliver an integrated project. It envisages supplying gas from the Bao Vang field (discovered by Vietgazprom, a joint operating company established by Gazprom and PetroVietnam) to a power plant that will be built in the Quang Tri Province.
At present, efforts are underway to establish a special area – the Dong Nam Economic Zone – where it is planned to set up industrial, logistics and port infrastructure.
The signing ceremony took place in the presence of Vladimir Putin and Nguyen Phu Trong, General Secretary of the Communist Party of Vietnam.
In line with the Memorandum, additional exploration will be carried out at the Bao Vang field, with an updated reserves estimate and, if deemed economically viable, an option for follow-up development.
The power plant construction project is currently under consideration at the Ministry of Industry and Trade of Vietnam. According to the Memorandum, the project will be included into the government plan for the development of Vietnam’s power industry until 2030.
«Gazprom and Vietnam have a long history of partnership in a variety of areas. The new joint project will allow us to increase the economic effectiveness of our hydrocarbon exploration and marketing efforts in Vietnam», said Alexey Miller.
To read the full story in Russian.
