• 5 minutes Malaysia's Petronas vs. Sarawak Court Case - Will It End Up In London Courts?
  • 9 minutes Sell out now or hold on?
  • 16 minutes Oil prices going down
  • 36 mins Oil prices going down
  • 7 hours When will oil demand start declining due to EVs?
  • 20 hours Two Koreas Agree To March Together At Asian Games
  • 7 hours Oil and Trade War
  • 10 hours Russia and Saudi Arabia to have a chat on oil during FIFA World Cup - report
  • 9 hours Sell out now or hold on?
  • 7 hours venezuala oil crisis
  • 6 hours Trump Hits China With Tariffs On $50 Billion Of Goods
  • 12 hours Correlation Between Oil Sweet Spots and Real Estate Hot Spots
  • 7 hours Germany Orders Daimler to Recall 774,000 Diesel Cars in Europe
  • 11 hours Malaysia's Petronas vs. Sarawak Court Case - Will It End Up In London Courts?
  • 5 hours What If Canada Had Wind and Not Oilsands?
  • 3 hours The Wonderful U.S. Oil Trade Deficit with Canada
  • 20 hours Geopolitical and Political Risks make their strong comeback to global oil and gas markets
  • 17 hours Trump Renews Attack On OPEC Ahead Of Group's Production Meeting
  • 5 hours After Three Decade Macedonia End Dispute With Greece, new name: the Republic of Northern Macedonia
Alt Text

Trump’s Tariffs On EU Are Great News For Russia

Souring trade relations between the…

Alt Text

Azerbaijan’s Pipeline Conundrum

Azerbaijan’s European pipeline project is…

Editorial Dept

Editorial Dept

More Info

Trending Discussions

One Of Asia’s Most Exciting Offshore Prospects

Introduction

Vietnam is a fast-growing nation in Southeast Asia with rapidly growing energy demand. But it also has significant offshore gas resources. The government has a questionable human rights record, but has gone to great lengths to court international oil and gas investment.

Let’s take a look at some of the opportunities there.

Malay Basin

PetroVietnam signed a memorandum of understanding with Murphy Oil (NYSE: MUR) on July 8, 2015, in order to cooperate on the development of oil and gas projects in Vietnam. Murphy is looking at Vietnam for its long-term potential. It has expressed specific interest in the Block B project, located in the Malay-Tho Chu Basin off Vietnam’s southern coast (see map below).

Chevron (NYSE: CVX) found gas in Block B a decade ago. But PetroVietnam acquired control of Chevron’s subsidiary in Vietnam in June. This gave PetroVietnam control of two offshore production sharing contracts (PSCs), Block B and Block 52. Chevron had discovered gas in these sections years ago, which are located in the Malay Basin. PetroVietnam also acquired Chevron Southwest Vietnam Pipeline Co. Ltd., giving it a 28.7 percent stake in the pipelines that will deliver the natural gas from the offshore projects to power plants onshore.

“The Block B gas project is PetroVietnam’s main oil and gas project. The project is of major significance, contributing to ensuring the energy security of the country and promoting…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News