The Hanoitimes – PetroVietnam (PVN) and the Japan Bank International Cooperation (JBIC) are discussing financial arrangements for the Block B gas project and 52/97 field development project, announced PVN on its website. Following the discussion, JBIC will consider providing funding for the Block B and 52/97 projects without a guarantee from the government. PVN to seek Japanese funding for US$10-billion petroleum project. Block B gas project is one of the largest of its kind in Vietnam, with a total investment of US$10 billion. With such large investment, stated PVN, the search for an appropriate financial arrangement has been a major concern for foreign partners taking part in the project. Following the schedule, the project will award the contract and sign the first engineering, procurement, construction and installation (EPCI) contract in June, while the second EPCI will be inked in July. Block B gas project includes 2 components. The first component is to develop the Block B gas field worth US$6.8 billion, which will be financed and operated by PVN (42.896%) in partnership with PVEP (26.788%), Mitsui Oil Exploration Co. Ltd. (22.575%) and PTTEP (7.741%). The Block B field development will include one central technology platform, 46 operations platforms, a housing… Read full this story
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