Mr. Mitsuo Hidaka - President & CEO of MOECO made speech at the event
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MOECO and PTTEP have enjoyed long standing cooperation with PetroVietnam for the development of the Block B Gas Project. Over the last 20 years, together we have been working very hard to establish a robust technical and commercial framework to supply clean and reliable energy to support the socio-economic development in the South West of Vietnam.
ThisLoA marks a significant milestone to enable the finalization of the commercial agreements and other requirements for the FID to achieve First Gas by the end of 2021. The next few months would be critical and we urgently need the Government support to finalize the Government Guarantees an Undertakings (GGU) as this is of the top priority for Foreign Partners to take Final Investment Decision.
At this moment of celebration, I would like to express my sincere gratitude to everyone whose dedication and efforts have contributed to the development of this Project in general and to the finalization of this LoA in particular. Also, in particular I would like to thank Vice Minister Vuong, CEO and President Son, Vice President Thap and their teams. Their strong leadership, guidance and commitment have made the signing of this LoAa reality.
In closing, I would like to say that I am confident that through our efforts and commitment, we will be able to deliver First Gas on schedule, within budget and safely. With this LoA and our enhanced partnership with PetroVietnam, we hope to achieve our vision to stay in Vietnam long term.
