Malaysia company ponders has-powered electricity plant
Vietnam News 09 October 2003
Malaysian oil and gas company Petronas is considering building a power station in Viet Nam , powered by natural gas from its reserves off the southern coast.
A company official said Petronas was looking at Phu My or somewhere in the Phan Thiet area as possible plant locations.
The official said Petronas estimated it had about half of 1 trillion cu.m of natural gas in Block 01 off southern Viet Nam , in which it holds an 85 per cent stake. Viet Nam 's state-owned oil and gas giant PetroVietnam owns the other 15 per cent.
Petronas is hoping to produce the first gas from Block 01 by 2006 or 2007, and to have a 800MWpower plant in place by the same date.
Viet Nam is thought to have considerable undeveloped natural gas supplies, but lacks the power stations to convert it into electricity.
EVN predicts it will need more than US$20 billion to expand its power plant capacity by 2020, much of which it hopes to raise from foreign investors.
Petronas (Petroliam Nasional Bhd) has business interests in more than 30 countries. At the end of March 2003, it comprised 82 wholly-owned subsidiaries, 24 partly-owned outfits and 47 associated companies.
Back to Newsclippings | To top
|
