Japanese firm pours US$560 million into Vietnamese gas field
VOV.VN - Mitsui of Japan is set to invest roughly JPY84 billion, equal to US$560 million, to develop a gas field in southern Vietnam under a project led by the Vietnam Oil and Gas Group (PetroVietnam), Nikkei Asia has quoted the Japanese trading house.
According to the media outlet, the Block B project in the Mekong Delta of Kien Giang includes field development, as well as the construction of a pipeline aimed at connecting to a gas-fired power plant.
It noted that the overall costs, including related outlays, will exceed US$10 billion.
The project is slated to begin in late 2026, and once completed it will churn out 490 million cu. feet on a daily basis.
Nikkei Asia revealed that Mitsui has conducted exploration activities since 1996. A subsidiary, Mitsui Oil Exploration (MOECO), holds a 23% interest in the upstream gas field business and a 15% stake in the midstream pipeline business through local units.
In its article, the Japanese newspaper outlined that numerous parties, including the Japan Bank for International Cooperation, are considering loans for the project.
