Vietnam's state-owned oil and gas group PetroVietnam has started the construction of the Block B-O Mon gas complex in Vietnam and announced a bid to find new investors in the project.
The Block B - O Mon gas project consists of 46 drilling platforms, one accommodation platform, one condensate tank and around 750 drilling wells. The system is aimed at collecting 107 bcm of gas and 12.65 mbl of condensate from the offshore Block B and to deliver them to gas-fired power plans in the Mekong Delta region in Vietnam through a 20.3 mcm/d gas pipeline to O Mon.
The project was initially developed in partnership with Chevron, Mitsui Oil Exploration (MOECO) and PetroVietnam, but Chevron withdrew from the project in 2015, prompting PetroVietnam to seek new partners. The development of Block B is estimated at US$6.8bn over 20 years, while the 431-km-long Block B - O Mon pipeline is estimated at US$1.2bn.
PetroVietnam is also developing a US$3.8bn gas pipeline system from the Ca Voi Xanh (Blue Whale) offshore gas field to the coast of Quang Nam province. The field is expected to produce 10 bcm/year. The project should start in 2017, with commercial operation in 2023.