Vietnam's state-owned oil group PetroVietnam signed an engineering, procurement, and construction (EPC) contract with a consortium between South Korea's Doosan Enerbility and Vietnam's Power Engineering Consulting JSC 2 (PECC2) to develop a 1,155 MW gas-fired combined-cycle power plant in Vietnam. Petrovietnam selected the Doosan-PECC2 consortium after an open international bidding process under governmental direction. The O Mon IV thermal power plant is scheduled to start operations by December 2028, raising PetroVietnam's installed capacity to over 9,300 MW or about 10% of the country’s power capacity.
The O Mon IV thermal power plant is part of a broader US$12bn project for the development of the Block B gas field by MOECO, off the south coast of Vietnam. The project includes sub-projects such as the construction of the Block B – O Mon pipeline and the establishment of four gas-fired power plants O Mon 1, 2, 3, and 4 totalling 3.8 GW and able to generate 22 TWh/year of electricity. The extracted gas will be transported via these pipelines to thermal power plants in the Mekong Delta region. This project is realised in partnership with the Vietnam Oil and Gas Group (PVN) and PTT E&P of Thailand.
Vietnam’s total capacity amounts to 90 GW (2024), of which gas represents nearly 10%.
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