PetroVietnam to Invest $144.6M to Develop Offshore Gas Field
HANOI, May 23, 2007 (Dow Jones Newswires)
The government said it has given approval for PetroVietnam to invest $144.6 million to develop a new gas field offshore South Vietnam.
Song Loc gas field is located in Block 46/02, about 250 kilometers offshore Ca Mau province, which is 350 kilometers southwest of Ho Chi Minh City.
"PetroVietnam should build nine wells and hire a gas tanker for the production of natural gas at the field," the government said on its Web site, without specifying when production is expected to begin.
The posting didn't provide details about the volume of natural gas reserves in the field.
Song Loc gas field is adjacent to Block PM3, where PetroVietnam earlier this month started producing 2 billion cubic meters a year of natural gas.
Copyright (c) 2007 Dow Jones & Company, Inc.
- Vietnam Court Sentences to Death PetroVietnam Ex-Chairman in Mass Trial (Sep 29)
- Asia Oil Refinery Delays Favor Producer Case for Extending Output Cuts (May 22)
- Vietnam's Sole Refinery Plans to Sell 5-6 Pct Stake in IPO in Q4 (May 22)