PetroVietnam Exploration Production Corporation announced that PetroVietnam Exploration and Production Corporation (PVEP) and two partners have signed a 451.3 million USD engineering contract with the Algerian state-owned oil and gas company SONATRACH.
Groupement Bir Seba (BBRS), a joint venture between three parties :
|A sea oil rig of PetroVietnam|
The total output of oil exploited from the Bir Seba oil field is expected to reach 20,000 barrels a day by 2014 and between 36,000 and 40,000 barrels a day by 2016.
PVEP, an affiliate of the Vietnam National Oil and Gas Group (PetroVietnam) holds a 40 percent stake in the Bir Seba joint-venture which was established in August, 2009
Groupement Bir Seba and Japan Gasoline Corporation will build an oil refinery with a capacity of 20,000 barrels a day, a gas transportation factory capable of carrying 1 million cube meters a day, and two oil pipelines, it is reported.
The facilities, to be built at the Bir Seba oil field in southern
Oil production was expected to begin by 2014 when output would be 20,000 barrels a day, and increase to 36,000-40,000 barrels in 2016.