Vietnam's Binh Thuan Aims to Tap Potential of Oil, Gas

The southern central Vietnamese province of Binh Thuan is putting all its efforts in fully tapping the potential of its oil and gas industry in the hope of a breakthrough in its economic development.

Oil and gas are expected to bring a new economic potential for Binh Thuan because the exploitation of oil and gas has already been conducted at the Hong Ngoc (Ruby), Rang Dong (Dawn), and Su Tu Den (Black Lion) oil fields, about 60 km from the province.

Located on the coastal line convenient for the installation of oil and gas pipelines and services, Binh Thuan province has an area of 146,500 ha suitable for the construction of infrastructure for industrial parks, processing zones and warehouses.

In particular, the province's Phu Quy island, 30 km from the oil and gas fields, is suitable for building an oil reserves centre to ensure the national energy security as well as a storage for crude exports.

Experts suggested as the province links with Lam Dong and other Central Highlands provinces by Highways 28 and 55 where there are bauxite ores, it is ideal for building a gas-electricity-aluminum complex. The Chairman of Binh Thuan People's Committee has asked the Ministry of Industry to submit a plan to develop the oil and gas industry in the locality to Prime Minister Phan Van Khai for approval.