The Ca Voi Xanh project could bring a number of long-term benefits to the country to help drive economic growth and improved living standards.
A joint venture of US-based ExxonMobil and Vietnam Oil and Gas Group (PetroVietnam) has advanced plans for a multi-billion dollar gas exploitation project off Vietnam’s central shore, Rigzone reported.
The venture has awarded an onshore-offshore front end engineering design (FEED) contract for Italian oilfield services provider Saipem for a proposed integrated natural gas-to-power development which treats gas from Ca Voi Xanh (Blue Whale) – Vietnam’s largest gas field, discovered in 2011.
The proposed project consists of an offshore platform, a pipeline to transport the gas ashore, an onshore gas treatment plant and pipelines that feed gas to third-party power plants to generate electricity locally.
ExxonMobil is filing appropriate permits, planning applications and other preparatory work for the proposed development. If approved, ExxonMobil will lead the construction and operation of the project, the oil company said on Wednesday [January 30].
“The Ca Voi Xanh project could bring a number of long-term benefits to the country, including cleaner, reliable power to help drive economic growth and improved living standards,” said Liam Mallon, president of ExxonMobil Development Company.
“If the project goes forward, it is estimated to generate $20 billion in revenue to the Vietnamese government, thousands of local jobs and improved energy security from domestic gas development,” he added.
Electricity of Vietnam, PetroVietnam, and Singapore-based Sembcorp are in discussions to build and operate the power plants. The proposed base development is expected to generate 3,000 MW of power, equivalent to about 10% of Vietnam’s current total power demand.
Vietnam waters. Photo: Pixabay
|
The proposed project consists of an offshore platform, a pipeline to transport the gas ashore, an onshore gas treatment plant and pipelines that feed gas to third-party power plants to generate electricity locally.
ExxonMobil is filing appropriate permits, planning applications and other preparatory work for the proposed development. If approved, ExxonMobil will lead the construction and operation of the project, the oil company said on Wednesday [January 30].
“The Ca Voi Xanh project could bring a number of long-term benefits to the country, including cleaner, reliable power to help drive economic growth and improved living standards,” said Liam Mallon, president of ExxonMobil Development Company.
“If the project goes forward, it is estimated to generate $20 billion in revenue to the Vietnamese government, thousands of local jobs and improved energy security from domestic gas development,” he added.
Electricity of Vietnam, PetroVietnam, and Singapore-based Sembcorp are in discussions to build and operate the power plants. The proposed base development is expected to generate 3,000 MW of power, equivalent to about 10% of Vietnam’s current total power demand.
Other News
- IT training urged to focus on semiconductors
- Hanoi Great Souvenir Fair 2024 to take place next week
- As orders rise, Vietnamese textile firms see better prospects in 2024
- C.bank to auction nearly 17,000 gold taels on April 22
- Trade ministry proposes purchasing renewable electricity mechanisms without EVN’s involvement
- Australia and Vietnam develop competitive electricity markets
- Vietnam, Thailand advance realization of “Three Connections” strategy
- Vietnamese Gov’t to expand list of electricity buyers under direct power agreement scheme
- Viettel opens largest data center in Vietnam to support AI development
- Vietnam’s economy expected to grow at solid pace in 2024-2025: ADB
Trending
-
Hanoi, UNESCO pledge further cooperation
-
Vietnam news in brief - April 25
-
Vietnamese contemporary ballet celebrates Europe Day
-
Capital Law revision helps Hanoi promote role as nation’s socio-economic hub
-
IT training urged to focus on semiconductors
-
Voluntary social security should cover larger part of informal sector: Experts
-
ASEAN Future Forum 2024: Promoting regional centrality
-
Central bank moves gold auction to tomorrow
-
[Video]Hanoi beauty spots featured in saxophone legend Kenny G's music video