The Vietnam National Oil and Gas Group, better known as PetroVietnam,launched a synthetic oil service port system and a bonded fuelwarehouse on Phu Quoc Island in the southern province of Kien Giang onJune 28.
PetroVietNam Technical Services Corp invested 4.2trillion VND (192.7 million USD) in the port system. Covering 116.5 haof land and 60 ha of sea, the project is to be built in three stages.The first stage will be completed in the second quarter of 2017. Thelast two stages will begin after 2020.
The construction andoperation of the port system will serve the gas exploitation andtransport from Block B, 48/95, 52/97 and other gas fields in the region,as well as provide logistics for the socio-economic development of thePhu Quoc Island district and the whole southwest region.
PV Oilinvested 1.4 trillion VND (64.2 million USD) in the fuel warehouse,built on 35.16 ha of land and 60 ha of sea. The first stage, expected inthe last quarter of 2017, has a storage capacity of 70,000 cubicmetres. The port system will serve vessels with a deadweight tonnage(DWT) of up to 80,000. The second stage will start after 2017.
PVOil CEO Don Van Nhuom said the project would help the company takeadvantage of the location to develop its bonded storage business.Domestic and foreign petroleum businesses could rent the warehouse tostore products while waiting to transport them to third countries,including ASEAN markets and other countries in the region.
"Theoil service port system and bonded fuel warehouse on Phu Quoc Island aretwo key pioneering projects assisting in the development of southwestgas projects," said PetroVietnam's Chairman Nguyen Xuan Son.
BlockB is PetroVietnam's main oil and gas project, which will contribute toensuring national energy security and promoting the socio-economicdevelopment of the southwest region.
The launch took place ashort time after the group acquired full interest in Chevron Corp'scompanies in Vietnam, which gave them the right to operate theproduction-sharing contracts in the two blocks.
Nguyen ThanhNghi, Vice Chairman of Kien Giang province's People's Committee, saidthe two projects would not only improve the efficiency of Block B, butalso contribute to the overall development of Phu Quoc Island district,Kien Giang province and Southwest region. He said the provincialauthority would create favorable conditions for the projects'implementation.-VNA
PetroVietNam Technical Services Corp invested 4.2trillion VND (192.7 million USD) in the port system. Covering 116.5 haof land and 60 ha of sea, the project is to be built in three stages.The first stage will be completed in the second quarter of 2017. Thelast two stages will begin after 2020.
The construction andoperation of the port system will serve the gas exploitation andtransport from Block B, 48/95, 52/97 and other gas fields in the region,as well as provide logistics for the socio-economic development of thePhu Quoc Island district and the whole southwest region.
PV Oilinvested 1.4 trillion VND (64.2 million USD) in the fuel warehouse,built on 35.16 ha of land and 60 ha of sea. The first stage, expected inthe last quarter of 2017, has a storage capacity of 70,000 cubicmetres. The port system will serve vessels with a deadweight tonnage(DWT) of up to 80,000. The second stage will start after 2017.
PVOil CEO Don Van Nhuom said the project would help the company takeadvantage of the location to develop its bonded storage business.Domestic and foreign petroleum businesses could rent the warehouse tostore products while waiting to transport them to third countries,including ASEAN markets and other countries in the region.
"Theoil service port system and bonded fuel warehouse on Phu Quoc Island aretwo key pioneering projects assisting in the development of southwestgas projects," said PetroVietnam's Chairman Nguyen Xuan Son.
BlockB is PetroVietnam's main oil and gas project, which will contribute toensuring national energy security and promoting the socio-economicdevelopment of the southwest region.
The launch took place ashort time after the group acquired full interest in Chevron Corp'scompanies in Vietnam, which gave them the right to operate theproduction-sharing contracts in the two blocks.
Nguyen ThanhNghi, Vice Chairman of Kien Giang province's People's Committee, saidthe two projects would not only improve the efficiency of Block B, butalso contribute to the overall development of Phu Quoc Island district,Kien Giang province and Southwest region. He said the provincialauthority would create favorable conditions for the projects'implementation.-VNA
