US$140 mln for oil&gas project
(VOV) - PetroVietnam Exploration and Production Corporation (PVEP) has reached a US$140 million deal with five commercial banks to implement its offshore oil and gas exploitation project in Lot 15-2/01 within Vietnam’s continental shelf.
The seven-year loan will be provided by OceanBank, VIB, MB, SeABank and LienVietPostBank.
Lot 15-2/01, located in the Cuu Long Basin, covers nearly 280,000 hectares 20km off the southern coast of Ba Ria-Vung Tau province.
Lot 15-2/01, located in the Cuu Long Basin, covers nearly 280,000 hectares 20km off the southern coast of Ba Ria-Vung Tau province.
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Other oilfields are being exploited in the Basin, including Su Tu Den (black lion) in Lot 15.1, Rang Dong in Lot 15.2 and the Rubi project in Lots 01 and 02.
The PVEP project is expected to pump the first oil flow from the Hai Su Trang (white lion) well in the second quarter of next year.
PVEP, a major arm of the Vietnam Oil and Gas Group, is operating oil and gas exploration projects for both the domestic and foreign markets. At present, it is currently involved in 44 projects in Vietnam and 15 projects abroad, mainly in the Middle East, Central Africa, Latin America, and Southeast and Central Asia.