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May 21, 2024 · Block B Gas Development is a conventional gas development located in shallow water in Vietnam and is operated by Vietnam National Oil and Gas Group. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, Block B Gas Development was discovered in 1997, lies in block Block B & 48/95 and ...
Apr 4, 2024 · The giant multi-billion dollar Block B integrated gas and power project in Vietnam has finally taken a final investment decision, as reported by joint venture partner Mitsui of Japan.
Mar 29, 2024 · The Block B Project will be the next-generation core business for MOECO. MOECO has been participating in this highly competitive project from the exploration phase and the project is expected to yield stable earnings in the long-term.
- Vietnam Block B Gas Project in A Nutshell
- Vietnam’s Blocks B Project on Track For Sanction This Year
- The Block B Gas Project and Its Impact on The Involved Parties
- Towards A Future of Unpredictability
Block B, located in the Malay-Thổ Chu basin, is a USD 10 billion natural gas field and pipeline project. The leading investorin the project is Vietnam Gas Corporation JSC. The Japan Bank for International Cooperation (JBIC) also plans to take part in the project. To date, Block B remains one of the country’s most significant natural gas exploitatio...
The project was first announced in 2016 but was suspended in early 2018. However, the project is now back on track for sanction in the fourth quarter of 2022. The entire chain of Block B-Ô Môn is intended to enter the construction phase in the second half of 2022. If everything goes according to schedule, the project will be completed in 2026.
According to the oil and gas group lobby, the Block B gas project will unleash many benefits other than increasing gas production. Thelobby statedit would be “a growth engine for businesses in the country’s oil and gas value chain, strengthening the industry’s foundation and profit growth of oil and gas enterprises”. As evident, the project will be...
Vietnam’s gas obsession is a combination of internal policies and external pressure. Regarding the former, the country’s current plan includes a substantial gas capacity expansion. The country’s PDP8 aims to increase the gas demand for power generation by up to 23%in 2030, from 12% currently. Regarding the latter, there has long been an agenda to p...
May 20, 2024 · Block B has made several milestones which ensure upstream & midstream execution. 1) On March 28, 2024, Mitsui Oil Exploration Co., Ltd. (“MOECO”) issued a final investment decision (FID). Its cash injection of USD740mn encompasses both the upstream and midstream of Block B’s phase 1 (we estimate total capex of USD3.4bn).
INFORMATION. Block B of the O Mon gas project is about 246km from the coast of An Minh, to the southwest of Kien Giang province. The project’s current investor is PVN, after it acquired shares from Chevron in 2018. Reserve volume is expected to reach 3.78bn cubic feet (about 107bn m3) and 12.65mn condensate barrels.
Feb 23, 2023 · Block B, 48/95 and 52/97 (hereinafter referred to as Block B) are located offshore to the southwest of Vietnam, in the Malay Basin - Tho Chu lowland of Vietnam’s continental shelf, about 300 km from the coast of Ca Mau, 400 km from O Mon Power Center, with a sea depth of about 77 m.
