The Hanoitimes - The consortium of PetroVietnam and ExxonMobil is continuing their oil and gas projects without any halt.
Oil and gas projects jointly conducted by Vietnam National Oil and Gas Group (PetroVietnam - PVN) and America’s ExxonMobil in central Vietnam are proceeding as scheduled.
“PetroVietnam has said that oil and gas projects in central Vietnam, including onshore and offshore ones, are being carried out as planned by the consortium of contractors PVN, Petrovietnam Exploration Production Corporation (PVEP) and ExxonMobil,” Spokeswoman Le Thi Thu Hang of Vietnamese Ministry of Foreign Affairs (MOFA) said at a press conference earlier this week.
Spokeswoman Le Thi Thu Hang of Vietnamese Ministry of Foreign Affairs. Photo: MOFA
Hang responded to reporters’ question regarding a rumor that ExxonMobil was withdrawing itself from Ca Voi Xanh (Blue Whale) – Vietnam’s largest offshore gas project off the central city of Danang discovered in 2011 with reserves of 150 billion cu.m.
PVN, PVEP and ExxonMobil signed agreement frameworks for project development and selling gas from the Ca Voi Xanh gas field in 2017.
The gas field, about 88 km to the east of central Vietnam’s shores, is operated by ExxonMobil. Between 9 and 10 billion cubic meters of gas are extracted every year.
Ca Voi Xanh gas field is 88 kilometers to the east of central Vietnam shore. Photo: Exxon Mobil
PVN has invested about US$4.6 billion in the project and expects revenues of US$30 billion from gas and another US$30 billion from electricity.
“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,” foreign media quoted President of ExxonMobil Development Company Liam Mallon as saying.
“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.