The company is working closely with the PetroVietnam Gas Corporation (PV Gas), PetroVietnam Exploration Production Corporation (PVEP) and other partners to negotiate relevant agreements on the development of the While Lion field to ensure effective exploitation.
Earlier, PetroVietnam Gas Corporation (PV Gas) and PetroVietnam Exploration Production Corporation (PVEP) inked an agreement in principal on cooperation in developing the second phase of the field.
Under the deal, PV Gas will contribute through PVEP one quarter of the estimated investment of 500 million USD to the phase. Gas from the oil field will be directly delivered to the mainland through the Nam Con Son 2 pipeline project, with 117 kilometres of pipeline at sea and another 39 kilometres on shore.
White Lion will be the main source of gas for the Dinh Co 2 gas processing plant, which will become operational in the fourth quarter of 2020.
Together with White Lion field development, total oil and gas production is expected at 52.4 million barrels of oil and consendate and 420 billion cubic feet of gas, making significant contributions to long-term gas exploitation plan of the Vietnam Oil and Gas Group.