PetroVietnam, Petronas Sign Gas Agreement
PetroVietnam and Malaysian Petronas March 15 signed a heads of agreement (HoA) for additional sale and purchase of gas for the Ca Mau gas, power and fertiliser complex, PetroVietnam said March 18.
As per the HoA, the Ca Mau gas, power and fertiliser complex is expected to start receiving 1bn m3/year of additional gas by end-2019 or early-2020. The two companies will continue to negotiate a final gas purchase contract so that rising demand for gas in the complex is met, PetroVietnam said.
The Ca Mau gas, power and fertiliser complex was built in 2001 in the Ca Mau province in south Vietnam. Its gas demand is 2.2bn m3/year and gas is sourced from block PM3- CAA in an offshore area between Vietnam and Malaysia.
Talisman Malaysia is the operator for the PM-3 CAA project with a 41.44% interest. Petronas Carigali holds a 46.06% interest and PetroVietnam Investment & Development Company holds a 12.5% interest.