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Home  >>   Daily News  >>   Vietnam News  >>   Energy  >>   PetroVietnam signs oil deal
NEWS UPDATES Asean Affairs                        30  August 2011

PetroVietnam signs oil deal

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PetroVietnam Exploration Production Corporation (PVEP) and partners, PTT Exploration and Production Pcl (PTTEP) of Thailand and Japan Gasoline Corporation on Sunday signed a US$451.3 million contract with Algerian state-owned oil firm Sonatrach.

PVEP and its partners have been commissioned to build an oil treatment centre, capable of treating 20,000 barrels a day; a gas transportation plant, capable of carrying 1 million cubic metres per day; two oil pipelines, an electricity generating plant and a water separation unit.

The facilities will be based at the Bir Seba mine in southern Algeria and will take 31 months to build.

Oil output is expected to reach 20,000 barrels a day by 2014 and 36,000-40,000 barrels in 2016. Under the deal, Sonatrach will receive 51 percent of the income of the oil produced.

PetroVietnam will be covering 40 percent of the cost of the project.

Meanwhile, Russian-Vietnamese oil and gas joint venture Vietsovpetro announced last Saturday it had successfully launched the 11,000-tonne Moc Tinh drilling platform – the biggest to have been made in Vietnam.



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ASEAN  ANALYSIS

This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 

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