Japan's Mitsui & Co finalizes $740m investment for Vietnam's Block B gas field development, set to produce 490 mcf/day by 2026.
Japan's Mitsui & Co has reached a final investment decision to develop Vietnam's Block B gas field with a $740m share of development costs. The project, 330 km off southwest Vietnam, will include a gas field and pipeline linking it to a gas-fired thermal power plant. Partners in the project include Vietnam Oil and Gas Group, PetroVietnam Exploration Production Corp, PetroVietnam Gas Joint Stock Corp and Thailand's PTT Exploration and Production Public Company. Gas production capacity is estimated at 490 million cubic feet per day, with output planned for the end of 2026. The project will also include a midstream development for gas transportation.
March 29, 2024
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