(QNO) - The Blue Whale project is being discussed at bilateral meetings and negotiations between Vietnam and ExxonMobil (USA) more and more frequently, promising an industry of natural gas electricity generation in Chu Lai, Quang Nam province.
|The tripartite signing ceremony of the Blue Whale project between Quang Nam, PetroVietnam and Exxon Mobil at the Quang Nam Investment Promotion Conference 2017.|
Gas-fired found at plot 118 of the Blue Whale project in May 2011 led to a cooperation agreement between Quang Nam and PetroVietnam (Vietnam Oil and Gas Group- PVN) in March 2016. Then, PVN and Exxon Mobil signed a framework development agreement and a contract to sell gas from the Blue Whale gas field. In August 2016, the Government of Vietnam decided to set up a natural gas power station in Quang Nam and Quang Ngai provinces using gas from the Blue Whale gas field. Accordingly, four gas power plants with a capacity of 3,000MW will be built in Tam Quang (Nui Thanh, Quang Nam) and Binh Thanh (Binh Son, Quang Ngai).
Super-project starting in 2019
On March 26, 2017, a tripartite signing ceremony of the Blue Whale project occurred between Quang Nam, PVN and Exxon Mobil. According to this agreement, the partners are permitted to make geotechnical and geophysical investigations, research socio-environment and human health in the project area in order to have a suitable overall technical design. Since the signing ceremony, a series of bilateral meetings between ExxonMobil and the Government of Vietnam have taken place to speed up the project.
According to President of Exxon Mobil Development Company (at Exxon Mobil Cooperation) Liam Mallon, it is the latest and the most complex project that Exxon Mobil has taken on in Vietnam. The project will bring indirect and direct benefits to both Central Vietnam and Vietnam. Exxon Mobil commits to capital mobilization, technology and governance. The Government of Vietnam should have unified and transparent investment policies and create stable investment environment. Hopefully, necessary technical conditions will be prepared in 2018; and the project will be officially launched in 2019.
Quang Nam: Ready for investment opportunities
Exxon Mobil will invest to build an offshore central platform to remove gas from water, two submarine clusters of exploitation with 8 wells and two 88-km pipelines linking to Chu Lai coast. It is estimated that the Blue Whale's gas reserve is about 150 billion cubic meters. About 9-11 billion cubic meters of gas will be exploited each year. The budget of Quang Nam will have approximately USD 1 billion more a year. The project will employ about 3,000 - 4,000 high-qualified workers. The products after gas can promote some light and auxiliary industries, services and the development of Chu Lai airport. The project will help Quang Nam develop quickly and sustainably. Therefore, Quang Nam authorities have made every effort to meet investors' requirements of meteorological station installation, infrastructure construction to connect industrial parks and gas power plants, building resettlement areas and ground clearance, adjusting the planning of industrial clusters to create the most favourable conditions for moving gas to its consumers. In short, Quang Nam is ready for this super-project.