US-based oil and gas company ExxonMobil and the state-run hydrocarbon producer Petrovietnam have awarded a contract for the front-end engineering and design (FEED) of an integrated gas-to-power project in central Vietnam. The proposed project will consist of an offshore platform to process natural gas from the Ca Voi Xanh field, located offshore Vietnam in block 118, a gas pipeline to connect to shore, an onshore gas treatment plant and pipelines to feed gas to third-party power plants to generate electricity locally.
PetroVietnam, Vietnam Electricity, and Sembcorp have engaged discussions for the construction and operation of power plants with a combined capacity of 3 GW. ExxonMobil will lead the construction and operation of the the multi-billion dollar project and is currently filing appropriate permits, planning applications and other preparatory work for its further development.
The final investment decision (FID) is targeted for 2020 based on executed gas sales agreements, regulatory approvals, governmental guarantees and economic competitiveness.
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