US group, PVEP sign gas project development framework agreement
The Vietnam National Oil and Gas Group (PetroVietnam)’s Exploration Production Corporation (PVEP) and the Exxon Mobil Vietnam Company signed a framework agreement on the Blue Whale project development and gas sale in Hanoi on January 13.
Hanoi (VNA) – The VietnamNational Oil and Gas Group (PetroVietnam)’s Exploration ProductionCorporation (PVEP) and the Exxon Mobil Vietnam Company signed a frameworkagreement on the Blue Whale project development and gas sale in Hanoi onJanuary 13.
Addressing the signing ceremony, Deputy PrimeMinister Vuong Dinh Hue hailed the efforts made by PetroVietnam and its USpartner since the contract on oil and gas division was signed in 2009,including the completion of this framework agreement.
The Government and relevant ministries willinstruct the Electricity of Vietnam (EVN) and PetroVietnam to quickly reach a frameworkagreement on electricity selling and buying contract and select investors ofpower plants in the Dung Quat Economic Zone, while devising proper mechanismsfor the power plants using gas exploited from the Blue Whale field, Hueaffirmed.
He urged ExxonMobil and PetroVietnam to work hard to have the first gas flowpumped from the field by the end of 2023.
The Blue Whale gas project is expected to providegas for power generation serving the development of the central region as wellas add energy sources to the southern region, contributing to ensuring thenation’s energy security, fueling local economic development and creating more jobsfor the region.
The framework agreement will lay a foundation forcontractors to optimise the preliminary front end engineering design (Pre-FEED)and FEED work to achieve the project’s targets.
In the first phase, the project is expected tosupply sufficient crude gas for the four power plants in the Chu Lai EZ inQuang Nam and the Dung Quat EZ in Quang Ngai, with a combined capacity of 3,000MW. After that, it will supply gas for the fifth 750 MW-power plant.
The Blue Whale project is part of the planning onthe gas-electricity complex in the central region which has been approved bythe government, and in line with the Gas Development Planning and the 7th VietnamPower Development Planning (PDP7).-VNA
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At the signing ceremony (Source: VNA) 
