BP Plans to Build $2B Gas Pipeline in South Vietnam

HANOI Mar 06, 2007 (Dow Jones Newswires)

BP Vietnam said Tuesday that it and its partners plan to invest up to $2 billion to build a pipeline to bring in gas from two offshore fields in southern Vietnam.

The two fields - Moc Tinh, located in Block 5.3, and Hai Thach, located in Block 5.2 - are near the Nam Con Son gas project, where BP is producing about 13.2 million cubic meters a day, a company spokeswoman said from Hanoi.

She declined to give details on the timetable for starting construction of the new pipeline or the partners for the project.

BP is currently working with PetroVietnam, India's Oil & Natural Gas Corp. (500312.BY), ConocoPhillips (COP) of the U.S. and Korea National Oil Corp. to produce gas in the Nam Con Son area.

Copyright (c) 2007 Dow Jones & Company, Inc.

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